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Parsons Mitigating Zero-Day Cyber Attacks, Wins SharkSeer 2.0

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Parsons Corporation (NYSE: PSN) has secured the SharkSeer 2.0 task order under the Defense Information Systems Agency's SETI contract, with a potential total value of $28 million over one base year and four option years. This contract aims to enhance cybersecurity for the Department of Defense by improving the existing SharkSeer program that utilizes AI to combat cyber threats. Parsons will handle various tasks, including integration and optimization across operational boundaries, leveraging its previous experience with the program.

Positive
  • Awarded a contract valued at $28 million, enhancing long-term revenue potential.
  • Partnership with DISA emphasizes credibility in cybersecurity solutions.
  • Focus on advanced AI capabilities to defend against cyber threats supports government contracts.
Negative
  • None.

CENTREVILLE, Va., Oct. 12, 2020 /PRNewswire/ --Parsons Corporation (NYSE: PSN) was awarded the SharkSeer 2.0 task order under the Defense Information Systems Agency's (DISA) Systems Engineering, Technology, and Innovation (SETI) contract. The firm-fixed price contract includes one base year and four option years, which, if exercised, will provide for a total potential value of $28 million.

SharkSeer 2.0 is a new requirement for DISA and will enhance the program's original operational capability with revamped architecture and new task requirements. The effort supports an enterprise boundary defense system that uses artificial intelligence to identify and mitigate zero-day cyber attacks and advanced persistent threats to protect the Department of Defense (DoD) networks.

"We look forward to partnering with DISA to develop new and creative defensive cybersecurity capabilities that will further enhance the program," said Veronica Kazaitis, senior vice president of business development for Parsons cyber and intelligence market. "Leveraging the DoD's expertise and product integration with Parsons' strong credentials in defensive cyber operations capability development will produce an affordable and powerful solution that protects the department's digital infrastructure."

Parsons scope for the base year and the options years, if exercised, will include migration, integration, testing, operations and maintenance, streamlining, optimization, enhancement, and simplification of all SharkSeer functionalities across seven operational boundaries. The company was involved in the original design and execution of the SharkSeer program.

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

Parsons Quest Mark Logo (PRNewsfoto/Parsons Corporation)

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SOURCE Parsons Corporation

FAQ

What is the SharkSeer 2.0 task order awarded to Parsons Corporation?

The SharkSeer 2.0 task order is a contract awarded to Parsons to enhance cybersecurity capabilities for the Department of Defense, with a potential total value of $28 million.

When was the SharkSeer 2.0 contract awarded to Parsons Corporation?

The SharkSeer 2.0 contract was awarded on October 12, 2020.

How much is the total potential value of the SharkSeer 2.0 contract?

The total potential value of the SharkSeer 2.0 contract is $28 million.

What does the SharkSeer 2.0 task order aim to achieve?

The SharkSeer 2.0 task order aims to enhance the existing program's capabilities in identifying and mitigating cyber threats using artificial intelligence.

What company is behind the SharkSeer 2.0 contract?

Parsons Corporation (NYSE: PSN) is the company awarded the SharkSeer 2.0 contract.

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Information Technology Services
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CENTREVILLE