Deal Details

Steampunk Has Agreed to Merge With MetroStar

Technology & Services

Steampunk merger with MetroStar, a portfolio company of Veritas

Summary

Steampunk, Inc. (“Steampunk” or the “Company”) has agreed to merge with MetroStar Systems, LLC (“MetroStar”), a portfolio company of Veritas Capital (“Veritas”). Terms of the transaction have not been disclosed. The transaction is subject to various regulatory approvals and customary closing conditions and is expected to close in the third quarter of 2026.

Baird served as exclusive financial advisor to Steampunk on this transaction.

About

Steampunk is a change agent in the federal contracting industry, bringing new thinking to clients across Homeland, Federal Civilian, Health, and Defense. Guided and powered by a User-Centered delivery methodology, Design Intelligence®, Steampunk exists to positively disrupt how government services are designed and delivered. Steampunk is headquartered in McLean, Virginia.

Steampunk’s merger with MetroStar illustrates the following themes in Defense, Space & Government M&A: (1) continued enthusiasm for interest in providers of AI-enabled solutions and cutting-edge technology that deliver mission-critical solutions at scale; (2) strategic appetite for combining premier technical talent with proprietary tools that drive mission impact; and (3) private equity enthusiasm for businesses and management teams in this sector with proven track records of customer success and revenue growth.

MetroStar is a trusted provider of AI-enabled products and services for U.S. government agencies, advancing the nation’s most critical missions through speed, innovation, and purpose. With a focus on AI, digital transformation, and secure enterprise modernization, MetroStar delivers technology that translates mission needs into capability at record pace, empowering Defense and National security leaders to outpace emerging threats and accelerate mission success. MetroStar is headquartered in Reston, Virginia.

Veritas is a longstanding technology investor with over $54 billion of assets under management and a focus on companies operating at the intersection of technology and government. The Firm invests in companies that provide mission-critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to the Firm. Veritas is a proud steward of national and global assets, focused on improving the quality of healthcare while reducing cost, advancing our educational system, accelerating energy transition and protecting our nation and allies. Veritas is headquartered in New York, New York.

Technology & Services

Steampunk merger with MetroStar, a portfolio company of Veritas