Parsons Awarded $16 Million US Army Intelligence Contract

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) has been awarded a $16 million contract by the U.S. Army for the collection, processing, and dissemination of high-fidelity signature data. This firm-fixed-price contract spans a five-year period and represents new work for the company. Senior VP James Lackey emphasized Parsons' 40+ years of delivering actionable solutions to the Department of Defense, highlighting their role in addressing evolving security challenges. Parsons leverages tailored intelligence solutions to enhance mission success and respond to both traditional and non-traditional threats.

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• Awarded a $16 million contract from the U.S. Army.
• Contract spans five years, indicating long-term revenue potential.
• Parsons has over 40 years of experience with the Department of Defense.

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• None.

CENTREVILLE, Va., March 27, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a $16 million firm-fixed-price contract by the U.S. Army for collection, processing, and dissemination of high-fidelity signature data. This contract has a five-year period of performance and is new work for the firm.

“Parsons has delivered actionable solutions to the Department of Defense and federal agencies for more than 40 years,” said James Lackey, senior vice president for Parsons’ Mission Solutions sector. “As connectivity evolves, geopolitical conditions shift, and near-peer threats loom, our innovation and agility are bolstering readiness to help our nation confront rapidly evolving security challenges in the all-domain battlespace.”

Parsons provides tailored intelligence solutions that accelerate mission success across the all-domain environment, as well as resources to solve complex security matters that enable rapid response to existing and emerging, non-traditional threats.

To learn more about Parsons’ leading defense capabilities, please visit parsons.com/defense/.

About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.

Media Contact:
Angie Benfield        
+1 803.334.5277
Angie.Benfield@parsons.com

Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
Dave.Spille@Parsons.com

FAQ

What is the value of Parsons Corporation's new contract with the U.S. Army?

Parsons Corporation's new contract with the U.S. Army is valued at $16 million.

How long is the contract awarded to Parsons Corporation effective?

The contract awarded to Parsons Corporation is effective for five years.

What type of work will Parsons Corporation perform under the new contract?

Parsons Corporation will be involved in the collection, processing, and dissemination of high-fidelity signature data.

Which company received a contract from the U.S. Army on March 27, 2023?

Parsons Corporation received a contract from the U.S. Army on March 27, 2023.

What is Parsons Corporation's stock symbol?

Parsons Corporation's stock symbol is PSN.