Parsons’ Wins $2.2 Billion Missile Defense Agency Contract

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) has secured a seven-year contract from the Missile Defense Agency (MDA) worth up to $2.24 billion for Technical, Engineering, Advisory, and Management Support. This contract includes a three-year base period with two optional two-year extensions. With over 38 years of collaboration with the MDA, Parsons aims to enhance missile defense systems to protect U.S. and allied forces against various missile threats.

Positive

• Secured a seven-year contract valued up to $2.24 billion.
• Longstanding partnership with MDA, enhancing credibility.
• Focus on advanced missile defense solutions supports national security.

Negative

• None.

Effort continues four decades of Parsons-MDA partnership

CENTREVILLE, Va., July 14, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) was awarded a seven-year contract valued up to $2,241,762,696 by the Missile Defense Agency (MDA) for Technical, Engineering, Advisory, and Management Support (TEAMS)–Next Systems Engineering. This contract has a three-year base with two two-year options. Parsons has supported the MDA’s mission for more than 38 years.  

“As global threats become more sophisticated, we are committed to advancing the MDA’s critical mission of developing and deploying layered missile defense systems that protect national security, deployed forces, and allied forces from missile attacks in all phases of flight,” said Kurt Tripp, Parsons’ senior vice president of integrated air and missile defense. “From current to future threats, we are focused on supporting the development of innovative, secure, mission-ready systems that connect the battlespace and ensure the security and empowerment of our nation’s warfighter.”

Parsons will provide engineering, analysis, and management support for the development of integrated and layered missile defense systems that defend U.S. and allied forces against ballistic, hypersonic, and cruise missile threats, and advance the agency’s integrated air and missile defense, command and control, and battle management communication missions across the all-domain battlespace.

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:
Crystalyn Koch
+1 719.648.8320
Crystalyn.Koch@brxtn.com

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

FAQ

What is the value of the contract Parsons received from the Missile Defense Agency?

The contract is valued at up to $2.24 billion.

How long is the contract Parsons secured with the MDA?

The contract is for seven years, including a three-year base and two optional two-year extensions.

What is the primary focus of Parsons in the new contract with the MDA?

Parsons will provide support for developing integrated missile defense systems.

How long has Parsons been working with the Missile Defense Agency?

Parsons has supported the MDA for more than 38 years.