Welcome to our dedicated page for Parsons Corporation news (Ticker: PSN), a resource for investors and traders seeking the latest updates and insights on Parsons Corporation stock.
Parsons Corporation (NYSE: PSN) is a pioneering company in the fields of engineering, construction, technical, and management services. Founded in 1944, Parsons has grown to become a leader in delivering innovative, technology-driven solutions across a variety of markets, including defense, intelligence, and critical infrastructure.
With a strong workforce of over 15,000 employees, Parsons engages in nearly 5,000 projects across 29 countries. These projects span multiple sectors and involve complex logistical challenges. The company's core services include design/build, program and construction management, and professional services tailored to meet the needs of both private industrial clients and government entities at the federal, regional, and local levels.
One of Parsons' significant achievements is obtaining a $28 million contract from the U.S. Air Force Research Laboratory for the development of intelligence, surveillance, and reconnaissance software. This contract extends Parsons' portfolio in supporting the Department of Defense and the Intelligence Community. The company is also renowned for its ZEUS® directed energy system, which has been deployed in Iraq and Afghanistan for neutralizing threats and enhancing operational safety.
Parsons is structured into two primary business segments: Federal Solutions and Critical Infrastructure. The Federal Solutions segment focuses on high-end services and technology for mission-critical projects for the U.S. government. The Critical Infrastructure segment offers integrated design and engineering services for intricate physical and digital infrastructure globally.
Additionally, Parsons has been selected as one of 15 lead consultants for the Los Angeles World Airports' (LAWA) Capital Improvement Program, a contract valued at nearly $1 billion over five years. This initiative is part of LAWA's broader inclusivity and modernization efforts.
Parsons' commitment to innovation and excellence is further exemplified by its collaborative projects like the Peak-Time Payback program for battery storage-based demand response in Texas, in partnership with Enphase Energy and GVEC. This project is aimed at enhancing the resilience and sustainability of the Texas electrical grid.
To stay updated on Parsons' latest developments and projects, visit their official website at parsons.com and follow their updates on LinkedIn and Facebook.
Parsons Corporation (NYSE: PSN) received a task order from the National Geospatial-Intelligence Agency (NGA) under the MOJAVE Functional Area 2 (FA2) contract, marking the seventh task order awarded since 2017, with a cumulative value exceeding $200 million. The six-month base contract with two option years emphasizes strengthening the nation's counter insider threat mission. Since 2012, Parsons has enhanced the NGA's insider threat program through advanced analytics, driving efficiency in data review and contributing to multiple NGA awards.
Parsons Corporation (NYSE: PSN) has secured a five-year contract worth $69 million from the U.S. Army Combat Capabilities Development Command to advance exploratory technologies aimed at enhancing the operational capabilities of American warfighters. The contract will focus on developing computational architectures, scalable technologies, and machine learning applications to improve tactical computing and high-performance computing services. Work will be conducted at various Army facilities in Maryland and New Mexico, reinforcing Parsons' commitment to delivering disruptive technology in defense.
Parsons Corporation (NYSE: PSN) has been awarded a multi-award COVID-19 testing contract by the Department of Homeland Security (DHS), with a shared ceiling value of $2 billion. This contract supports DHS employees through managed testing services and molecular diagnostic testing. The company plans to utilize its innovative DetectWise™ health monitoring solutions, which include touchless kiosks for temperature screening and COVID-19 test history management. The partnership aims to enhance safety and operational efficiency amidst the ongoing pandemic.
Parsons Corporation (NYSE: PSN) will participate in the Cowen 42nd Annual Aerospace/Defense & Industrials Conference on February 9, 2021, at approximately 12:40 p.m. Eastern Time. CEO Chuck Harrington and CFO George Ball will engage in a fireside chat during the session. Investors can access the live presentation via webcast on Parsons' investor relations website, with a replay available for 30 days. Parsons is a leader in disruptive technology for defense, intelligence, and critical infrastructure, emphasizing cybersecurity, missile defense, and smart cities.
Parsons Corporation (NYSE: PSN) is hosting the second AFCEA TECHNET International Capture the Flag event at the Georgia Cyber Center on January 28, 2021. This competition aims to enhance partnerships among allied nations and improve collective cyber capabilities amid increasing global digital threats. The event features 61 teams from 15 countries, including the U.S., Canada, and Germany. Parsons emphasizes the importance of collaboration in cybersecurity, as highlighted by VP Tom Barnes. For more information on Parsons' cyber capabilities, visit Parsons' website.
Parsons Corporation (NYSE: PSN) announced that its recent acquisition, Braxton Technologies, received the prestigious Tibbitts Award for excellence in SBIR and STTR efforts. Braxton's leader, Ed Baron, was also honored with an individual Tibbetts Award for his significant contributions to the defense sector. This recognition underscores Braxton's impact on the Colorado Springs economy, generating over $370 million for local businesses. Since 2013, Braxton has secured $160 million in Phase III SBIR funding, aiming to enhance its capabilities within Parsons' space solutions market.
Parsons Corporation (NYSE: PSN) introduced RailPulse™, a software solution that optimizes the data from Positive Train Control (PTC) systems. This innovative platform automates reporting and diagnostics, significantly cutting down time and costs compared to manual methods. RailPulse™ allows rail operators to enhance performance and safety by providing customized analysis and adapting to evolving Federal Railroad Administration (FRA) reporting needs. The product integrates with existing PTC systems, emphasizing Parsons' commitment to improving the efficiency of rail transportation.
The joint venture of COWI, Parsons (NYSE:PSN), and SYSTRA has been awarded a significant contract by DSB for consultancy services on the automation of the S-train system in the Greater Copenhagen Area, Denmark. This contract spans eight years with potential extensions, aiming to convert the traditional rail system to a fully automated transport network. The project is expected to enhance mobility, support a greener urban environment, and improve passenger capacity, representing a key advancement in public transit optimization.
On January 25, 2021, Parsons Corporation (NYSE: PSN) announced its leadership of an industry team, including Leidos (NYSE: LDOS) and SAIC (NYSE: SAIC), for a 10-year, $953 million contract with the U.S. Air Force. This initiative aims to design and maintain Air Base Air Defense (ABAD) systems across Europe and Africa, addressing emerging asymmetric threats. The team will utilize advanced technologies and an open architecture approach to enhance air base defense capabilities, ensuring protection for military assets in contested environments.
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