Parsons Eclipses $450M in OTA Awards

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) announced it achieved over $200 million in other transaction awards (OTAs) from the U.S. Department of Defense in 2020, surpassing $450 million since 2018. This growth is in line with Parsons' strategy of rapid development, innovative technology investments, and an agile research approach. The awards focus on advanced technologies such as hypersonic weapons, artificial intelligence, and cybersecurity, reflecting the company's commitment to enhancing the operational capabilities for U.S. warfighters.

Positive

• Achieved over $200 million in OTA awards in 2020.
• Total OTA awards exceed $450 million since 2018.
• Focus on advanced technologies aligns with defense sector demands.

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• None.

CENTREVILLE, Va., Nov. 16, 2020 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) announced today that it has eclipsed more than $200 million in other transaction awards (OTAs) from the U.S. Department of Defense in 2020, and more than $450 million since 2018. The company's OTA acceleration is aligned to its rapid growth strategy, agile research and development approach, and innovative technology investments.

"As a leading defense technology company, we're focused on quickly delivering the most advanced operational capabilities that help protect our warfighter against future threats," said Carey Smith, president and chief operating officer of Parsons. "Our company's agility and scalability, combined with an innovative R&D and acquisition approach, align perfectly with the Department of Defense's requirement to field disruptive mission-ready capabilities quickly."

Parsons is focused on leading, next-generation technology development for the nation's warfighters across the all-domain battlespace. The awards focus on hypersonic weapons; artificial intelligence and machine learning; improved fire control systems; radars; sensor systems; knowledge-as-a-service; threat simulators; directed energy; C5ISR; full-spectrum cyber; and joint all-domain command and control (JADC2).

To learn more about Parsons, please visit: www.parsons.com/

About Parsons:

Parsons (NYSE: PSN) is a leading disruptive technology provider in the global defense, intelligence, 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.

Media Contact:
Bryce McDevitt
+1 703.851.4425
Bryce.McDevitt@parsons.com

Investor Relations Contact:
Dave Spille
+ 1 571.655.8264
Dave.Spille@parsons.com

 

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SOURCE Parsons Corporation

FAQ

What were Parsons Corporation's OTA awards in 2020?

Parsons Corporation achieved over $200 million in OTA awards from the U.S. Department of Defense in 2020.

How much has Parsons Corporation received in OTA awards since 2018?

Since 2018, Parsons Corporation has received more than $450 million in OTA awards.

What technologies are included in Parsons Corporation's defense contracts?

The contracts include technologies such as hypersonic weapons, artificial intelligence, and cybersecurity systems.

What is the stock symbol for Parsons Corporation?

The stock symbol for Parsons Corporation is PSN.