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  • Monday, December 23, 2024
Parsons

Parsons Closes $300M Braxton Purchase for Space, Intell Market Push

Parsons (NYSE:PSN) has wrapped up its $300M acquisition of Braxton Science & Technology Group in a move to expand technology offerings for the space, intelligence and cyber sectors.

Centreville, Virginia-based Parsons said Thursday the deal marks its fourth acquisition over the past two years and is part of an investment strategy to access intellectual property within the defense and intelligence markets.

BSTG – which has more than 370 employees – will operate under its parent organization's space and geospatial solutions sector. Eighty percent of that personnel have a security clearance.

Colorado Springs, Colorado-based BSTG has helped Department of Defense and intelligence community customers manage spacecraft and antenna simulation, ground infrastructure automation and satellite operations.

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