The acquisition of Braxton Science & Technology Group adds to Parsons' capabilities in the space area. Image: Parsons
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Parsons Corp. [PSN] on Thursday said it completed its $300 million acquisition of Braxton Science & Technology Group, adding to its capabilities in the space market.
The value of the deal, which was announced in October, was $258 million including a tax benefit.
Braxton is expected to contribute $131 million in sales in 2021 and be accretive to Parsons earnings per share. Braxton has more than 370 employees, 80 percent with security clearances.
Braxton works on the U.S. Space Forces Enterprise Ground Services effort and has capabilities in satellite operations, ground systems automation, flight dynamics, and spacecraft and antenna simulation for the Defense Department and intelligence community.