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Parsons Reports $750M Contract Win

Parsons (NYSE: PSN) recently disclosed its subsidiary Xator won a potential three-year, $750 million contract to support an unnamed “sensitive client.”

Parsons said the single-award contract, which represents new work for the company, consists of a one-year base period worth $250 million and a pair of one-year contract options valued at $250 million each.

The Centreville, Virginia-based government technology provider acquired Xator in an approximately $400 million deal that closed in June 2022 to gain a bigger footing within the Intelligence Community, U.S. Special Operations Command, federal civilian agencies and the critical infrastructure market.

Xator is currently providing overseas security installation services to the U.S. State Department under a potential $1.2 billion contract, according to data published on USAspending.gov.

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