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Parsons Acquires Sealing Technologies for $200M to Boost Cyber Offerings

Company acquisition

Parsons Acquires Sealing Technologies for $200M to Boost Cyber Offerings

Parsons has acquired Maryland-based Sealing Technologies for up to $200 million. At closing, Parsons is paying $175 million with $25 million payable in the first quarter of fiscal year 2025 if 2024 revenue targets are met.

SealingTech is projected to generate $110 million in revenue in 2024.

According to Carey Smith, CEO, president and board chair of Parsons, the SealingTech acquisition is part of her company’s growth strategy to provide the Department of Defense and the intelligence community with more mission-ready solutions. Smith, a 4×24 member and 2023 Wash100 winner, explained that SealingTech’s defensive cyber capabilities allow Parsons to increase its share in the full-spectrum cyber operations market, which is poised to receive more government investments.

SealingTech offers cybersecurity products and services to protect the internet of things, edge combat, artificial intelligence and cloud industry networks and systems.

Edward Sealing, CEO of SealingTech, said combining his organization’s capabilities with Parsons’ will be a force multiplier and drive business growth, Parsons said.

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Tags: acquisition Carey Smith defensive cyber operations growth strategy Member News Parsons Sealing Technologies