CENTREVILLE, Va., Nov. 19, 2020 /PRNewswire/ -- Parsons Corporation (NYSE:PSN) announced today that it has completed its previously announced acquisition of Braxton Science & Technology Group, LLC (Braxton) and its subsidiaries in a deal valued at $300 million ($258 million less the tax asset). The transaction is consistent with Parsons' strategy of acquiring high-growth defense and intelligence companies with software and hardware intellectual property that enhance its technology and transactional revenue growth and margin profile.
The strategic acquisition is Parsons' fourth acquisition since 2018. The acquisition increases Parsons' solutions, products, and capabilities in the space, cyber, and intelligence markets. Braxton will be integrated into Parsons' space and geospatial solutions market, adding more than 370 employees, 80% of whom hold security clearances.
Headquartered in Colorado Springs, Colorado, Braxton operates at the forefront of satellite operations, ground system automation, flight dynamics, and spacecraft and antenna simulation for the U.S. Department of Defense and Intelligence Community. These capabilities position Parsons to capitalize on the quickly evolving space missions of its national security space customers and address rapid market growth driven by proliferated low earth orbit constellations, small satellite expansion, and space cyber resiliency.
Parsons (NYSE: PSN) is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.
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