Parsons Corporation (NYSE:PSN) shares ticked slightly lower in the premarket session on Thursday after the company announced a sizable acquisition designed to broaden its defense footprint.
The defense, intelligence, and critical infrastructure market operator has agreed to buy Altamira Technologies Corporation in a deal valued at up to $375 million.
Parsons paid $330 million in cash at closing and may pay an additional $45 million in the first quarter of 2027 if performance targets are met.
The purchase reflects a strong multiple on projected 2026 earnings.
As of September 30, 2025, Parsons had $422.55 million in cash and equivalents on its balance sheet.
Acquisition Overview
Parsons said it will acquire Altamira, a McLean, Virginia-based firm known for analytics, signals intelligence and space systems engineering.
The transaction advances Parsons’ national security and intelligence business units.
Parsons expects Altamira to generate more than $200 million in revenue in 2026 and to improve margins, revenue growth and earnings per share. The deal aligns with Parsons’ acquisition criteria.
Parsons executives said the deal expands services into advanced analytics, SIGINT, cyber, missile warning and space capabilities. Leadership also highlighted growth potential with Department of Defense and Intelligence Community customers.
Executive Comments
“Acquiring Altamira is a strategic accelerator for our national security growth strategy, strengthening Parsons’ ability to deliver rapid and agile mission‑ready, intelligence‑driven solutions across the Department of War and the Intelligence Community,” said Carey Smith, Parsons’ chair, president and CEO.
Altamira employs more than 600 staff, over 90% with security clearances, the company said.
Its portfolio includes missile warning, AI/ML analytics, space support and SIGINT/cyber operations.
According to Benzinga Pro, PSN stock has lost over 26% in the past year. Investors can gain exposure to the stock via Defiance Drone and Modern Warfare ETF (NYSE:JEDI).
PSN Price Action: Parsons shares were down 1.69% to $69.18 during premarket trading on Thursday, according to Benzinga Pro data.
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