Parsons Corp. [PSN] on Thursday said it has agreed to acquire Braxton Science & Technology Group

(BSTG) for $300 million in a deal that expands its capabilities in the growing market for space technology.

The value of the deal, which is expected to close during the fourth quarter of 2020, is $258 million after factoring in a $42 million tax benefit.

BSTG, which is based in Colorado Springs, Colo., is expected to generate $131 million in sales and be accretive to Parsons’ per share earnings in 2021. The company has more than 370 employees, 80 percent of whom have security clearances.

Parsons said the pending deal will increase its presence in high-growth markets of spacecraft ground segments, positioning, navigation and timing, and constellation management. It also gives the company new offerings in hardware, software and advanced engineering services in the space operations, Defense Department and intelligence communities. BSTG also has capabilities in cross domain data dissemination, information assurance and cyber security.

Parsons said BSTG has expertise with the U.S. Space Force’s Enterprise Ground Services effort, which is a new architecture for integrating spacecraft ground control operations across multiple government agencies. Parsons also said the pending acquisition will position it to address its space customers’ evolving needs amid growth in low orbit constellations, small satellites and cyber resiliency.

“The addition of BSTG complements our space portfolio, increases our product offerings in high-growth markets, and adds critical intellectual property that complements and expands our capabilities for the U.S. Air Force, Space Force, and research laboratories,” Chuck Harrington, chairman and CEO of Parsons, said in a statement.

Braxton’s core competencies are in hardware, software, enterprise engineering services, and software maintenance and sustainment. The company has added 39 new hires this year, representing 12 percent growth in personnel, Jefferies aerospace and defense analyst Sheila Kahyaoglu, said in a client note on Thursday.

Goldman Sachs & Co. is Parsons’ financial adviser on the transaction and BSTG is being advised by KippsDeSanto & Co.