Artificial Intelligence | News | Insights | AiThority
[bsfp-cryptocurrency style=”widget-18″ align=”marquee” columns=”6″ coins=”selected” coins-count=”6″ coins-selected=”BTC,ETH,XRP,LTC,EOS,ADA,XLM,NEO,LTC,EOS,XEM,DASH,USDT,BNB,QTUM,XVG,ONT,ZEC,STEEM” currency=”USD” title=”Cryptocurrency Widget” show_title=”0″ icon=”” scheme=”light” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ custom-css-class=”” custom-id=”” css=”.vc_custom_1523079266073{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

Parsons to Acquire Braxton Science & Technology Group

Acquisition enhances space and cyber portfolios; Accretive to revenue growth and adjusted EBITDA margin

Parsons Corporation announced that it has entered into a definitive agreement to acquire Braxton Science & Technology Group, LLC (BSTG) and its subsidiaries in a deal valued at $300 million ($258 million less the tax asset). The acquisition increases Parsons’ solutions, products, and capabilities in the space, cyber, and intelligence markets.

BSTG’s broad portfolio of commercial off-the-shelf products—as well as their sustainment of government off-the-shelf products—provide mission critical solutions including spacecraft ground control and spacecraft integration. BSTG has over 50 differentiated space-mission product offerings consisting of software and hardware products combined with advanced engineering services. Their leading product portfolio is built on a technology base of industry best practices for software development, cybersecurity, and domain expertise. BSTG will be integrated into Parsons’ space and geospatial solutions market, adding more than 370 employees, 80% of whom hold security clearances.

Recommended AI News: Rune Labs Closes $5M Seed Round

“The addition of BSTG complements our space portfolio, increases our product offerings in high-growth markets, and adds critical intellectual property that complements and expands our capabilities for the U.S. Air Force, Space Force, and research laboratories,” said Chuck Harrington, Parsons’ chairman and chief executive officer. “We look forward to welcoming BSTG’s employees into the Parsons’ family, driving synergistic solutions that leverage our expanded set of space solutions, growing our technology, and furthering our customer’s critical missions including joint all-domain operations.”

Related Posts
1 of 14,318

Headquartered in Colorado Springs, Colorado, BSTG 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. BSTG has specific domain expertise with the U.S. Space Force’s Enterprise Ground Services (EGS) effort: a next generation architecture that will unify spacecraft ground control operations across multiple major government agencies.

Recommended AI News: Clearsulting Launches CPM/EPM Service Offering

The transaction is consistent with Parsons’ strategy of acquiring high-growth, defense, and intelligence technology companies with software and hardware intellectual property that enhance its technology and transactional revenue growth and margin profile.

“The combination of our leading defense capabilities, and decades of trusted customer relationships, combined with Parsons’ global scale, cross-industry experience, and disruptive mindset creates a leading space technology provider,” said Ken O’Neil, president of BSTG. “We’re excited to join an organization known for their entrepreneurial spirit, agility, culture of innovation and inclusion, and successful track record of mergers, acquisitions, and integrations. Parsons is a large company with the operational agility of a smaller organization, which attracted us to them and gives us confidence in our future success together.”

Recommended AI News: Zuora Welcomes Its First Chief Diversity Officer

32 Comments
  1. […] will have to use at least one cookie to ensure that you won’t have to make this choice again.AcceptDeclinePrivacy […]

  2. […] will have to use at least one cookie to ensure that you won’t have to make this choice again.AcceptDeclinePrivacy […]

  3. […] use a minimum of one cookie to make sure that you will not should make this selection once more.AcceptDeclinePrivacy […]

  4. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  5. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  6. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  7. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  8. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  9. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  10. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  11. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  12. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  13. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  14. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  15. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  16. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  17. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  18. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  19. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  20. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  21. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  22. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  23. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  24. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  25. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  26. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  27. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  28. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  29. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  30. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  31. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

  32. […] Recommended AI News: Parsons to Acquire Braxton Science & Technology Group […]

Leave A Reply

Your email address will not be published.