Parsons Set to Acquire Xator for $400M
Virginia-headquartered Parsons Corporation announced that an agreement has been reached to acquire defense and space manufacturer Xator Corporation for $400 million. Parsons said Monday that, through the acquisition, it hopes to expand its presence within the U.S. Special Operations Command, the Intelligence Community, federal civilian customers and global critical infrastructure markets.
Parsons, a technology company focused on defense, intelligence, security and infrastructure engineering, said its latest acquisition promises to broaden its addressable market in both the federal solutions and critical infrastructure segments.
Xator, a provider of critical infrastructure protection, enterprise technology and cybersecurity solutions, is seen to bring differentiated technical capabilities to the acquiring entity. In particular, the company brings along its know-how in counter-unmanned aircraft systems, intelligence and cyber solutions, biometrics, and global threat assessment and operations.
Carey Smith, chairman, president and chief executive officer at Parsons, said the acquisition of Xator is a natural extension of her company’s growth strategy, adding to it important solutions and technologies. The 2022 Wash100 awardee added that the deal potentially strengthens Parsons’ position across two complementary markets.
For his part, David Scott, CEO at Xator, said the combining of the two companies creates a competitive force in the global infrastructure and national security markets.
Parsons said that the transaction is consistent with its strategy of acquiring profitable businesses that bring with them critical intellectual property. Xator is set to become part of Parsons’ engineered systems business unit, with its global capabilities being leveraged across both the federal and critical infrastructure segments.
Category: Member News
Tags: acquisition C4ISR solutions Carey Smith David Scott Member News Parsons Xator