Business Wire
26 July 2022

Veritas Capital (“Veritas”), a leading technology and government investment firm, today announced that The Veritas Capital Vantage Fund, L.P. (“Vantage Fund”) has made a strategic investment in Epiq Solutions, a leading provider of software defined radio and turnkey radio frequency (“RF”) solutions for governments and enterprises. Epiq Solutions is now a portfolio company of the Vantage Fund, which targets opportunities in the middle market. Co-founders John Orlando, Aaron Madsen, and Michael Shogren will continue to lead the company and will retain a significant ownership position. Financial terms of the transaction were not disclosed.

Founded in 2009, Epiq Solutions provides small form factor, SWaP-C (size, weight, power and cost) optimized software defined radio and turnkey RF solutions for mission-critical military and commercial embedded computing applications. The company offers a portfolio of commercial-off-the-shelf hardware and differentiated software solutions that leverage open-architecture standards, allowing government and enterprise customers to rapidly insert technology and accelerate modernization efforts.

“We’re thrilled to partner with Veritas, a premier technology investor with decades of experience, to accelerate our growth,” said John Orlando, CEO of Epiq Solutions. “Veritas’ deep network, expertise investing at the intersection of technology and government, and collaborative approach will support our continued investment in product advancement and our rapid expansion into new markets. We look forward to delivering enhanced, best-in-class technology and powerful, mission-critical solutions to an expanded set of customers in the years to come.”

“Epiq’s contemporary, market-leading open architecture solutions and unwavering commitment to its customers have positioned it at the forefront of the industry,” said Hugh Evans, a Managing Partner of Veritas Capital. “With strong customer traction, the company is well positioned to meet its customers’ diverse and evolving needs and scale its national platform amid strong industry tailwinds. We look forward to partnering with John and the talented team to support the company’s continued growth, both organically and through targeted acquisitions.”

Latham & Watkins served as legal counsel to Veritas. Raymond James served as financial advisor to Epiq Solutions and Miles & Stockbridge served as legal counsel.

About Veritas Capital
Veritas is a longstanding technology investor with a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide 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 national security, healthcare, and education, is core to Veritas. We are proud stewards of national assets, protecting our nation and allies, improving the quality of healthcare while reducing cost, and advancing our educational system. 

The Vantage Fund is a $1.8 billion fund targeting opportunities in the middle market. The Vantage Fund seeks to leverage the integrated platform, unique capabilities and demonstrated intellectual property of Veritas. For more information, visit www.veritascapital.com.

About Epiq Solutions
Epiq Solutions develops cutting edge RF tools that provide situational awareness and detailed insight into RF environments. With more than a decade serving governments and enterprises, and thousands of devices fielded, Epiq Solutions understands speed, cost, and performance for mission-critical applications. Epiq’s radically small, state-of-the-art software defined radio solutions and turnkey RF tools lead the way in minimizing size, weight, and power consumption. For more information, visit www.epiqsolutions.com.

Media Contacts
For Epiq Solutions:
Chris Whalen
VP of Sales
[email protected]

For Veritas Capital:
FGS Global
Jenny Gore / Suzanne Byowitz
[email protected]