Parsons Corp. to acquire Colo.-based tech firm for $300M
Centreville defense contractor to buy Braxton Science & Technology Group LLC
Centreville-based defense contractor Parsons Corp. announced Thursday that it has entered into a definitive agreement to acquire Colorado Springs, Colorado-based Braxton Science & Technology Group LLC (BSTG) and its subsidiaries for $300 million.
BSTG provides services for satellite operations, ground system automation, flight dynamics and spacecraft and antenna simulation for the U.S. Department of Defense and intelligence community. Parsons provides infrastructure, defense and security services to federal, regional and local government agencies and private industrial customers.
The acquisition, expected to close during the fourth quarter of this year, will allow Parsons to expand its mission critical solution offerings for spacecraft ground control and spacecraft integration, of which BSTG has 50 product offerings. BSTG will become a part of Parsons’ space and geospatial solutions market, adding more than 370 employees.
“The addition of BSTG 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,” Parsons Chairman and CEO Chuck Harrington said in a statement.
BSTG also focuses on the U.S. Space Force’s Enterprise Ground Services (EGS) effort, which will unify spacecraft ground control operations across multiple government agencies.
“The combination of our leading defense capabilities, and decades of trusted customer relationships, combined with Parsons’ global scale, cross-industry experience and disruptive mindset creates a leading space technology provider,” BSTG President Ken O’Neil said in a statement.
Parsons was advised by Goldman Sachs & Co. LLC and Latham & Watkins LLP for the transaction, while BSTG was advised by KippsDeSanto & Co. and Sparks Wilson P.C.