Parsons Files Plan for IPO

Parsons filed with the Securities and Exchange Commission for an initial public offering to raise approximately $500M, Reuters reported Friday.

The IPO could be available in April or May with the value of the construction and engineering services estimated at $3B, according to the report.

Bank of America, Goldman Sachs and Morgan Stanley are among the investment banks that are likely to underwrite the transaction, according to people familiar with the plan.

Sources said Parsons’ recent acquisitions of businesses serving intelligence and defense clients have made the company more attractive to investors.

Parsons acquired OGSystems, a Chantilly, Va.-based technology services contractor, in January in a push to broaden expertise in geospatial intelligence and big data analytics. The following month the company decided to transfer its corporate headquarters from Pasadena, Calif., to the Washington, D.C. area in support of growth initiatives.

Check Also

Michael Kratsios Acting Undersecretary DoD

Michael Kratsios Appointed Acting DoD Undersecretary for Research, Engineering

Michael Kratsios, U.S. chief technology officer and a 2020 Wash100 Award winner, has been named acting undersecretary of research and engineering at the Department of Defense.

Paul Strasser CEO Brillient

Brillient Wins $112M BPA to Modernize USDA FPAC Records Mgmt System; Paul Strasser Quoted

Brillient has secured a single-award, $112 million blanket purchase agreement from the Department of Agriculture, the company announced Monday. "We are extremely pleased to bring our strong digital transformation and agile development capabilities coupled with our expertise in electronic records management to assist the USDA in this important mission area,” said Paul Strasser, CEO of Brillient.