Parsons Seals The Deal For SealingTech To Bolster Its Capabilities In Defensive Cyber Operations
Portfolio Pulse from Shivani Kumaresan
Parsons Corporation (NYSE:PSN) has acquired Sealing Technologies, Inc. in a deal valued at up to $200 million. The acquisition is expected to generate $110 million of revenue in 2024 and will be accretive to Parsons' fiscal year 2024 revenue growth rate, adjusted EBITDA margin, and adjusted earnings per share. SealingTech will expand Parsons' customer base across the Department of Defense and Intelligence Community and enhance its capabilities in defensive cyber operations, AI and ML, edge computing and edge access modernization, critical infrastructure protection, and secure data management.
August 23, 2023 | 3:50 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Parsons Corporation's acquisition of Sealing Technologies is expected to generate significant revenue in 2024 and enhance its capabilities in defensive cyber operations. This could potentially increase the company's share price.
The acquisition of Sealing Technologies by Parsons Corporation is a strategic move that is expected to generate significant revenue in 2024 and enhance the company's capabilities in defensive cyber operations. This could potentially increase the company's share price as it could lead to increased profitability and market share in the cyber operations market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100