Parsons Corporation (PSN), an engineering and technology company, said on Thursday that it has acquired Altamira Technologies Corporation in a transaction valued up to $375 million.
Parsons paid $330 million in cash at closing for Altamira, with an additional $45 million cash earn-out payable in the first quarter of 2027 if certain EBITDA targets are met during 2026.
The acquisition is anticipated to add to Parsons' fiscal 2026 revenue and adjusted earnings per share. Altamira is expected to generate over $200 million of revenue for 2026.
Carey Smith, CEO of Parsons, said: "Acquiring Altamira is a strategic accelerator for our national security growth strategy, strengthening Parsons' ability to deliver rapid and agile mission-ready, intelligence-driven solutions across the Department of War and the Intelligence Community."
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