Parsons Acquires Maryland-based Cyber And Technology Company Sealing Technologies In Transaction Valued At Up To $200M
Portfolio Pulse from Benzinga Newsdesk
Parsons is acquiring Maryland-based cyber and technology company Sealing Technologies for up to $200 million. The deal includes $175 million in cash at closing and an additional $25 million in Q1 2025 if certain revenue targets are met in 2024. Parsons estimates that SealingTech will generate $110 million of revenue in 2024 and that the transaction will be accretive to Parsons' fiscal year 2024 revenue growth rate, adjusted EBITDA margin, and adjusted earnings per share.
August 23, 2023 | 10:32 am
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Parsons' acquisition of Sealing Technologies is expected to boost its revenue growth rate, adjusted EBITDA margin, and adjusted earnings per share in 2024.
The acquisition of Sealing Technologies is expected to be accretive to Parsons' financials in 2024, indicating a positive impact on the company's stock in the short term.
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IMPORTANCE 80
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