Welcome to our dedicated page for Parsons news (Ticker: PSN), a resource for investors and traders seeking the latest updates and insights on Parsons stock.
Parsons Corporation (NYSE: PSN) is a technology-driven company active in national security and global infrastructure markets, and its news flow reflects that focus. Public announcements highlight work across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection, giving investors and observers insight into how Parsons executes its strategy.
News about Parsons often centers on federal and defense contracts, including awards and positions on large U.S. Department of War, U.S. Air Force, and Missile Defense Agency programs. Releases describe task orders and multiple award contracts that cover design, engineering, and construction management for facilities and infrastructure that support mission readiness, as well as efforts to expand munitions production capacity and strengthen the Defense Industrial Base.
The company also issues updates on space and intelligence-related activities, such as contracts supporting space demonstration missions, satellite operations, and ground control services. Parsons’ acquisition of Altamira Technologies Corporation, which brings signals intelligence, cyber, missile warning, and space capabilities, is an example of transaction-related news that expands its defense and intelligence portfolio.
On the infrastructure side, Parsons’ news includes awards for urban development and transportation projects, such as design roles on advanced rapid transit lines and large mixed-use developments. These announcements illustrate its involvement in global infrastructure and urban development programs.
Visitors to this PSN news page can review company press releases and other coverage to track material events, contract wins, acquisitions, leadership changes, and guidance-related announcements that Parsons discloses to the market.
On March 14, 2023, Parsons Corporation (NYSE: PSN) announced the acquisition of IPKeys Power Partners for $43 million. This strategic move enhances Parsons' capabilities in cybersecurity and critical infrastructure protection, particularly in grid modernization and cyber resiliency sectors. IPKeys, established in 2014, serves major utilities across North America and aligns with the Infrastructure Investment and Jobs Act, addressing the growing need for improved cybersecurity amidst increasing digitalization. The acquisition is expected to extend Parsons' market presence and customer base, integrating IPKeys into its Connected Communities business unit.
Parsons Corporation (NYSE: PSN) has been recognized as one of the 2023 World's Most Ethical Companies by Ethisphere, marking the 14th consecutive year the firm has received this honor. In 2023, 135 companies across 19 countries and 48 industries were acknowledged for their commitment to ethical business practices. CEO Carey Smith emphasized the importance of ethics in driving organizational performance, while the company’s employee-first mindset bolsters its Environmental, Social, and Governance (ESG) strategy, focusing on sustainability and diversity. The recognition highlights Parsons' core values and commitment to integrity.
Parsons Corporation (NYSE: PSN) will host its Investor Day on March 15, 2023, at the New York Stock Exchange. The event begins at 9:00 am ET, featuring presentations from top executives, including CEO Carey Smith and CFO Matt Ofilos. They will discuss the company’s vision, strategies, key initiatives, and financial objectives. Interested analysts and institutional investors can register on Parsons’ investor relations website and access a live webcast. Parsons is recognized as a leading technology provider in national security and global infrastructure, with diverse capabilities in cyber, space defense, transportation, and urban development.
Parsons Corporation (NYSE: PSN) has secured an $18 million task order to enhance air defense capabilities for U.S. Air Forces-Europe and Air Forces Africa. The task order focuses on countering threats from unmanned aerial systems and cruise missiles, to be executed at Ramstein Air Base, Germany. This initiative is part of a larger 10-year, $953 million contract awarded in 2021 for air-base air-defense systems across Europe and Africa. The project aims to develop scalable solutions ensuring force protection and operational efficiency in a rapidly evolving threat environment.
Parsons Corporation (NYSE: PSN) has announced a global strategic partnership with Microsoft aimed at enhancing digital transformation and cybersecurity capabilities. This collaboration is set to leverage Microsoft's Azure cloud and AI technologies alongside Parsons' expertise in national security and infrastructure. The partnership intends to deliver innovative solutions across various sectors, improving the efficiency and security of operations. Additionally, both companies will focus on developing training programs for future cybersecurity professionals. This agreement underscores Parsons' commitment to leveraging technology for improved infrastructure management.
Parsons Corporation (NYSE: PSN) has announced its role in providing Capital Project Management Services for Phase 2 of the Los Vaqueros Reservoir Expansion, partnering with Contra Costa Water District (CCWD) and GEI Consultants Inc. The project aims to enhance water supply reliability and quality for over 500,000 customers in the San Francisco Bay Area by increasing the reservoir's capacity from 160,000 to 275,000 acre-feet. Parsons will employ its digital solutions, Parsons X, to improve project efficiency. The Phase 2 project aligns with state and federal objectives and will receive funding from various governmental sources and local stakeholders.
Parsons Corporation (NYSE: PSN) has been awarded a $30 million contract by Santa Clara Valley Water District for construction management services on the Rinconada Water Treatment Plant Reliability Improvement Project, Phases 3-6. This project aims to enhance operational reliability, and water quality while retrofitting key equipment. Key upgrades will include raw water ozonation and dual media filtration, increasing treatment capacity from 80 MGD to 100 MGD. The initiative will maintain plant operations during construction, addressing risks effectively and ensuring compliance with stringent safety standards.
Parsons Corporation (NYSE: PSN) has secured a position on a $900 million Air Force modeling, simulation, and analysis contract, which includes a five-year performance period and options extending to November 2032. This contract supports the Air Force’s objectives in capability planning and system modeling. Parsons aims to enhance defense capabilities in response to evolving threats through its advanced modeling and simulation solutions. The firm has been a long-time provider of support to the Air Force, showcasing its commitment to developing elite military capabilities.
Parsons Corporation (NYSE: PSN) has secured a $21 million contract to provide command, control, communications, computers, and capabilities development (C4CD) services to the U.S. Cyber Command (CYBERCOM). This one-year contract reflects Parsons' ongoing support for CYBERCOM since 2016, awarded by the General Services Administration (GSA). The technical support includes tool development, cyber security engineering, and IT solutions. The contract aims to enhance military cyberspace operations, ensuring robust defense against cyber threats.
Parsons Corporation (NYSE: PSN) has secured a $49 million indefinite-delivery multiple award contract from the US Army Corps of Engineers (USACE) Mobile District South Atlantic Division. The contract spans five years and focuses on construction management services for military and civil projects. Parsons has a robust history with the USACE, previously executing over 40 task orders worth more than $2 billion. This is the fourth consecutive contract with the Mobile District, reinforcing Parsons' capabilities in supporting infrastructure development crucial for the nation's economy.
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