Parsons Corporation Wins $81M US Army Contract for Advanced Radar, AI Solutions

Parsons Corporation (NYSE:PSN) is one of the best IT stocks to invest in according to hedge funds. On September 4, Parsons Corporation announced that it has secured an $81 million C5ISR radar contract from the US Army Combat Capabilities Development Command/DEVCOM. This is a re-compete Task Order awarded under the Responsive Strategic Sourcing for Services/RS3 contract vehicle.

The contract has a 12-month base period of performance, along with four 12-month option periods. Under the contract, Parsons will provide critical radar engineering solutions to help the Army DEVCOM’s Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance, and Reconnaissance/C5ISR division meet its mission needs.

This includes enhancing Army aerial and ground radar capabilities through the development of advanced radio frequency technologies, the integration of artificial intelligence, and the provision of systems engineering services.

Parsons Corporation (NYSE:PSN) provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets internationally. It operates through Federal Solutions and Critical Infrastructure segments.

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Disclosure: None. This article is originally published at Insider Monkey.