Parsons Strengthens Technical Capabilities Via This $400M Deal - Read More For Deails - Parsons (NYSE:PSN)

Parsons Corp PSN has agreed to acquire Reston, Virginia-based Xator Corp for $400 million.
Xator provides mission-focused solutions addressing critical infrastructure protection, national security, and mission training requirements for the U.S. Government worldwide.
Xator expands Parsons' customer base and brings differentiated technical capabilities in critical infrastructure protection, counter-unmanned aircraft systems (cUAS), intelligence and cyber solutions, biometrics, and threat assessment and operations.
The transaction is valued at ~$343 million, including the net present value of a $57 million transaction-related tax benefit, or ~10.7x Xator's estimated 2023 adjusted EBITDA.
By 2023, Xator is expected to generate ~$300 million in revenue. Parsons expects the transaction to be accretive to its 2023 adjusted EPS, revenue growth, and adjusted EBITDA margin and close later this quarter.
Xator will be integrated into Parsons' engineered systems business unit, leveraging its global capabilities across federal and critical infrastructure segments.
Parsons' held cash and equivalents of $286 million as of March 31, 2022.
Price Action: PSN shares are trading higher by 2.54% at $37.16 on Monday's last check.

Parsons Strengthens Technical Capabilities Via This $400M Deal - Read More For Deails