Defence technology solutions provider Parsons has closed the purchase of digital security firm BlackHorse Solutions in an ‘accretive deal’ worth $203m.
The agreement to acquire the digital security firm was signed in June.
Both the companies are involved in supporting critical security challenges of the US.
BlackHorse serves the US Department of Defense (DoD) and customers in the intelligence community.
It provides cyber, electromagnetic warfare (EW) and information operations, autonomous and distributed detection, identification, exploitation, and solutions regarding complex communications.
The completion of this acquisition will expand Parsons’ customer base and proven solutions and products that deal with next-generation military, intelligence, and space operations.
In addition, it will add cyber, digital operations, artificial intelligence / machine learning capabilities and critical intellectual property to Parsons’ portfolio.
Moreover, Parsons will be better positioned to pursue large joint all-domain contract opportunities.
Parsons noted that the BlackHorse transaction aligns with its strategy to acquire companies with revenue growth and adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) margins of more than 10%.
Headquartered in Herndon, Virginia, BlackHorse will now operate under Parsons’ federal solutions business segment. It will also bring some 200 employees to Parsons’ unit.
Parsons was advised by Baird and Latham & Watkins and BlackHorse by Raymond James & Associates and Cooley.
In March, Parsons won a multiple award task order contract supporting intelligence missions from the US Defense Intelligence Agency (DIA).