Parsons Corp. has entered an agreement to buy Cobham Analytic Solutions, commonly known as Sparta Inc., and its subsidiaries for $350 million.
Parsons will integrate the missile services provider into its engineering business, according to a Bloomberg report. The report noted that the purchase will be made on a cash and debt free basis.
Sparta primarily supports the intelligence community and the Defense and Homeland Security Departments with advanced systems engineering, cybersecurity and mission support services.
Sparta generated $322.7 million in 2010 revenues and employs around 1, 100 workers at more than a dozen U.S. offices. Its principal locations are Arlington, Va., and Huntsville, Ala.
“By acquiring Sparta, Parsons enhances its ability to offer mission-oriented technical and professional services to new and existing customers in the U.S. national security marketplace, ” said Parsons Chairman and CEO Chuck Harrington. We are excited to be able to add a complementary professional services organization like Sparta to our growing technical services business.”
