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Business/Financial

Parsons Beefs Up Cyber Capabilities With Acquisition Of Sealing Technologies

By Cal Biesecker

Wednesday, August 23rd, 2023

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Parsons Beefs Up Cyber Capabilities With Acquisition Of Sealing Technologies

Carey Smith, chairwoman, president, and CEO of Parsons Corp. LinkedIn photo

Parsons Corp. [PSN] on Wednesday said it has acquired Sealing Technologies, inc. for upward of $200 million in a deal that strengthens its capabilities in defensive cyber operations and expands its customer base within the Defense Department and intelligence community. Deal terms include $175 million in cash and a potential $25 million earnout provision if SealingTech meets certain sales targets in 2024. SealingTech, which is based in Columbia, Md., is expected to have around $110 million in sales in 2024.…

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