Parsons Corp. (NYSE: PSN) will acquire Colorado Springs, Colorado-based Braxton Science & Technology Group LLC (BSTG) in a $300 million deal unveiled Thursday.
The tie-up will provide the Centreville government contractor with a range of commercial-off-the-shelf product offerings in both the space and intelligence sectors, business areas that have proven to be in-demand markets.
Already counting the Department of Defense and Intelligence Community agencies among its customers, BSTG — which has an office in Chantilly — is expected to help Parsons take a deeper business foothold into Space Force, the U.S. military’s newest branch.
“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,” Parsons Chairman and CEO Chuck Harrington, said in a statement.
The buy, which includes…Read the full story from the Washington Business Journal.