Parsons and AVEVA Announce Digital Asset Management Collaboration
Parsons Corporation (NYSE: PSN) has announced a strategic partnership with AVEVA Group plc, enhancing its digital capabilities in project and asset management. This collaboration integrates AVEVA’s advanced industrial software solutions into Parsons X, a vendor-agnostic toolbox aimed at improving project efficiency across sectors such as renewable energy and chemicals. With AVEVA’s established market presence, serving over 75% of global oil production and numerous power plants, this partnership is expected to accelerate digital transformation for clients, optimizing costs and maintenance strategies.
- Partnership with AVEVA enhances Parsons' digital capabilities.
- Access to AVEVA's software solutions aids in improving project management efficiency.
- Potential for cost optimization and improved maintenance for clients across multiple sectors.
- None.
CENTREVILLE, Va., July 28, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced a partnership with the AVEVA Group plc as a registered system integrator (SI). This partnership adds to the company’s Parsons X digital software- and vendor-agnostic toolbox, helping renewable energy, oil and gas, power, chemicals and mining customers make real-time optimal data-driven project and asset management decisions through innovative solutions.
AVEVA is a global leader in industrial engineering, design, and information management software. Their solutions are deployed at more than 100,000 customer sites supporting over
“We’re living in a digital world. Through this partnership, we are helping our customers accelerate their digital transitions with software agnostic, scalable offerings that ensure each client has the right tool for their project,” said Joe Cudney, senior vice president of energy and environment for Parsons. “Leveraging AVEVA’s suite of solutions will help our customers improve planning and design, optimize maintenance, and reduce costs across all our markets, and is a natural fit with Parsons’ industry leading project and construction management offerings.”
As a system integrator, Parsons has access to software solutions that span integrated process design, simulation, engineering, procurement, construction, and handover processes – a reliable asset management tool helping deliver superior performance by driving value, agility, and sustainability over the entire lifecycle of a project.
“Our system integrators are critical to delivering our technologies, and we look forward to working with Parsons across the many infrastructure markets they serve,” said Kerry Grimes, senior vice president of Partner Sales for AVEVA. “By coupling our digital platform with Parsons’ engineering and project management expertise, we will continue to drive value for our customers and help grow the AVEVA footprint in the renewable energy, chemicals, and mining industries, among others.”
Parsons continues accelerating the world’s digital transformation revolution with cutting-edge innovation. Parsons X combines technology solutions from various vendors like AVEVA, enhancing the company’s decades of digital leadership while unlocking an enterprise approach that drives further efficiency, agility, and digital delivery into the critical infrastructure markets.
To learn more about Parsons’ digital capabilities and how to take your next project to the Power of X, visit www.Parsons.com/X.
About AVEVA
AVEVA is a global leader in industrial software, sparking ingenuity to drive responsible use of the world’s resources. The company’s secure industrial cloud platform and applications enable businesses to harness the power of their information and improve collaboration with customers, suppliers and partners.
Over 20,000 enterprises in over 100 countries rely on AVEVA to help them deliver life’s essentials: safe and reliable energy, food, medicines, infrastructure and more. By connecting people with trusted information and AI-enriched insights, AVEVA enables teams to engineer efficiently and optimize operations, driving growth and sustainability.
About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit parsons.com, and follow us on LinkedIn and Facebook to learn how we’re making an impact.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends, and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results, and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results, or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local, or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations, and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations, or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train, or retain employees with the requisite skills, experience, and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews, and investigations, which may result in materially adverse judgments, settlements, or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.
Media Contact:
Bernadette Miller
+1 980.253.9781
Bernadette.Miller@Parsons.com
Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
Dave.Spille@parsons.com
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