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Business/Financial

Parsons Completes Acquisition Of Braxton

By Cal Biesecker

Thursday, November 19th, 2020

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Parsons Completes Acquisition Of Braxton

The acquisition of Braxton Science & Technology Group adds to Parsons' capabilities in the space area. Image: Parsons

Parsons Corp. [PSN] on Thursday said it completed its $300 million acquisition of Braxton Science & Technology Group, adding to its capabilities in the space market. The value of the deal, which was announced in October, was $258 million including a tax benefit. Braxton is expected to contribute $131 million in sales in 2021 and be accretive to Parsons earnings per share. Braxton has more than 370 employees, 80 percent with security clearances. Braxton works on the U.S. Space Forces…

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