WASHINGTON ― Parsons announced its acquisition of Polaris Alpha on Monday, the engineering firm’s latest move to grow in the cyber, space and C4ISR markets.
Parsons currently offers solutions in artificial intelligence, signals intelligence and data analytics supporting offensive and defense cybersecurity missions, and has a history as a contractor for the Missile Defense Agency. The company will augment its federal business by adding Polaris Alpha’s expertise in electromagnetic warfare, space situational awareness and multidomain command-and-control technologies.
Polaris Alpha is the amalgamation of several mergers orchestrated by private equity firm Arlington Capital Partners. The company has over 1,300 employees, with nearly 90 percent maintaining security clearances, and its acquisition should make Parson’s more competitive in the space market.
“With the acquisition of Polaris Alpha, our space portfolio becomes much stronger,” Carey Smith, president of Parsons’ federal business unit, said.
“The acquisition of Polaris Alpha is the latest transformative move for Parsons that takes our technology solutions strategy to a new level with customers needing advanced solutions to rapidly evolving threats,” Chuck Harrington, Parsons’ Chairman and CEO, said.
“With the integration of Polaris Alpha into Parsons, we enhance our proven artificial intelligence and data analytics expertise with new technologies and solutions, the demand for which is growing exponentially.”
Polaris Alpha will officially come under Parsons’ ownership on June 1, and is expected to increase its earnings from government work from one-third to one-half of the corporation’s overall revenues, SpaceNews reported.
“The combination of Polaris Alpha into Parsons is a logical continuation of our strategy to deliver highly differentiated technical capabilities for the government’s most critical missions,” Peter Cannito, Polaris Alpha’s CEO, added.
“Joining Parsons significantly broadens our access to new markets, solidifies our ability to deliver at scale, and provides a unique opportunity for our employees to continue to have a meaningful role in a transformative culture and premier organization.”