Parsons has acquired Altamira Technologies for approximately $375 million as part of efforts to expand its signals intelligence, missile warning, cyber and space capabilities for the Department of War and U.S. intelligence community customers.
Parsons said Tuesday Altamira’s more than 600 employees, over 90 percent of whom hold security clearances, will become part of its defense and intelligence business unit.
The transaction aligns with Parsons’ strategy of expanding its portfolio of critical intellectual property and acquiring high-growth firms with at least 10 percent revenue growth and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, margins.
In 2025, Parsons acquired defense technology firm CTI and environmental contractor TRS Group.
Parsons made a cash payment of $330 million at closing for Altamira, with a potential $45 million cash earnout payable in the first quarter of 2027, subject to achieving certain 2026 EBITDA targets.
What Are Parsons CEO Carey Smith’s Thoughts on the Altamira Acquisition?
Carey Smith, chair, president and CEO of Parsons, said the acquisition of Altamira strengthens the company’s national security growth strategy and enhances its ability to deliver intelligence-driven platforms across DOW and IC.
“Altamira’s advanced intelligence, surveillance, and reconnaissance (ISR), and analytics capabilities, plus their space-based mission solutions expand our capabilities and position us to capture a larger share of the rapidly evolving intelligence and multi-domain operations market. Their deep commitment to solving the nation’s most complex security challenges aligns seamlessly with Parsons’ mission, culture, and our alignment to the Department of War’s acquisition-transformation strategy,” added Smith, a seven-time Wash100 awardee and chair of Executive Mosaic’s 4×24 Group 1 Leadership.
Parsons expects Altamira to realize over $200 million in 2026 revenue and be accretive to its fiscal revenue growth rate, adjusted diluted earnings per share and adjusted EBITDA margin.
Barclays exclusively advised Parsons on the deal’s financial aspect. Baird acted as Altamira’s exclusive financial adviser.
What Does Altamira Do?
Established in 1999, Altamira supports defense, intelligence and space programs by delivering capabilities in the areas of engineering, missile warning, artificial intelligence and machine learning-enabled analytics, cyber, space-based mission support and cyber operations.
The McLean, Virginia-based company helps DOW and IC accelerate acquisition and advance digital modernization by rapidly transitioning prototypes into operational capabilities. It is a portfolio company of growth equity firm ClearSky, McNally Capital, Razor’s Edge and NIO Advisors.
“We are excited to join forces with Parsons, a partnership that reflects our shared commitment to innovation, mission excellence, and delivering decisive advantages to the warfighter,” said Altamira CEO Jane Chappell.
“Together, we will leverage our combined strengths to expand our impact, accelerate capability delivery, and provide the cutting-edge solutions required to meet the Department of War and Intelligence Community’s evolving operational and acquisition priorities,” added Chappell.
