Parsons Completes Acquisition of Xator Corporation
CENTREVILLE, Va., June 01, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that it completed the previously communicated acquisition of Xator Corporation in a deal valued at $400 million. The strategic acquisition expands Parsons’ presence within the U.S. Special Operations Command, the Intelligence Community, Federal Civilian customers, and global critical infrastructure markets, while providing new customer access at the Department of State, which is expected to experience significant budgetary growth.
The transaction is consistent with Parsons’ strategy of completing accretive acquisitions of companies with revenue growth and adjusted EBITDA margins of 10% or greater, while adding critical intellectual property that strengthens the company’s existing portfolio. Xator will be primarily integrated into Parsons’ engineered systems business unit, with its global capabilities being leveraged across both the federal and critical infrastructure segments.
Founded in 2005, Xator expands Parsons’ customer base and brings differentiated technical capabilities in critical infrastructure protection, counter-unmanned aircraft systems (cUAS), intelligence and cyber solutions, biometrics, and global threat assessment and operations, increasing the company’s addressable market in both the federal solutions and critical infrastructure segments.
To learn more about Parsons’ history of successful acquisition and growth strategy, please visit: https://www.parsons.com/acquisitions/
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, C5ISR, transportation, environmental remediation, and water/wastewater treatment. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.
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