Parsons to acquire space and cybersecurity firm Braxton Science & Technology Group
WASHINGTON — Parsons announced Oct. 29 it will acquire Braxton Science & Technology Group for $258 million. The acquisition broadens the company’s footprint in space and cybersecurity.
Braxton, based Colorado Springs, Colorado, will be merged into Parsons’ space and geospatial business, adding more than 370 employees, 80% of whom hold security clearances, the company said. Parsons, a more than $3 billion government contractor, is headquartered in Centerville, Virginia.
This acquisition “complements our space portfolio, increases our product offerings in high-growth markets, and adds critical intellectual property that complements and expands our capabilities for the U.S. Air Force, Space Force, and research laboratories,” said Chuck Harrington, Parsons’ chairman and chief executive officer.
Braxton in recent years has secured a streak of military and intelligence agency contracts for space ground systems, satellite cybersecurity and other space technologies. For 2021, Braxton is expected to generate $133 million in revenue.
Notably, Braxton was selected in 2017 as the systems engineering contractor for the U.S. Space Force’s Enterprise Ground Services, a planned architecture that will unify spacecraft ground control operations across multiple programs. The company also won a Space and Missile Systems Center contract to add cybersecurity to the Enterprise Ground Services.
Braxton’s president Ken O’Neil, said Parsons is a “large company with the operational agility of a smaller organization, which attracted us to them and gives us confidence in our future success together.”
The Braxton deal follows Parsons’ $292 million acquisition of OGSystems acquisition in 2019 and the $489 million purchase of defense contractor Polaris Alpha in 2018.