202

Parsons Corp. will be DC area’s next IPO

Parson's Centreville headquarters at 5875 Trinity Parkway in Centreville, Virginia. (Courtesy Parsons Corp.)

Defense, engineering and IT security contractor Parsons Corporation has filed with the Securities and Exchange Commission for an initial public stock offering.

Parsons just this month completed the relocation of its corporate headquarters from Pasadena, California, to Centreville, Virginia, where the company already had a major presence.

While the company is planning an initial public stock offering, it has been around for decades, founded in 1944. Parsons has also grown its D.C.-area presence over the last several years through acquisitions.

Parsons did not set a date for its IPO, share price or number of shares to be offered in its regulatory filing. The IPO is expected to commence after the SEC completes its review process, the company said.

A Reuters report says an IPO would value Parsons Corp at around $3 billion.

The stock offering could launch in April or May, Reuters said, citing people familiar with the plan.

Parsons maintains a large presence in California, with about 1,400 employees. It now has a total of 2,400 employees spread across several D.C.-area locations and about 16,000 employees worldwide.

Like WTOP on Facebook and follow @WTOP on Twitter to engage in conversation about this article and others.

© 2019 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.