Parsons strengthens defense portfolio with $375M Altamira acquisition

Parsons Corporation (NYSE:PSN) has reached an agreement to acquire Altamira Technologies in a transaction valued at up to $375 million, the company announced Thursday.

The deal marks a significant expansion of Parsons’ Defense & Intelligence business unit, adding specialized capabilities in signals intelligence (SIGINT), cyber operations, and space-based mission support.

Under the terms of the agreement, Parsons paid $330 million in cash at closing.

The transaction includes an additional $45 million earnout, which is contingent on Altamira meeting specific EBITDA targets during the 2026 fiscal year.

If achieved, the earnout would be payable in the first quarter of 2027.

The base purchase price reflects a multiple of approximately 12.8x Altamira's anticipated 2026 EBITDA.

The acquisition brings approximately 600 highly skilled employees to Parsons, more than 90% of whom hold high-level security clearances.

Altamira’s expertise in AI/ML-enabled analytics and missile warning systems is expected to complement Parsons' existing strengths in all-domain technology integration, particularly as the company focuses on Department of War and Intelligence Community requirements.

Parsons projects that Altamira will generate over $200 million in revenue during 2026.

Management stated the acquisition will be immediately accretive to the company’s fiscal 2026 revenue growth rate, adjusted EBITDA margin, and adjusted earnings per share.