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Parsons will officially open a new smallsat integration facility in Torrance, California on 2020-02-27.
Parsons performed the engineering work to prepare the 12U cubesat to ride on the Centaur’s aft bulkhead carrier under a five-year $100,000,000 contract from the Space and Missile Systems Center to serve as launch manifest systems integrator.
Parsons will integrate a secondary payload for the Atlas 5 launch of Landsat 9, a NASA Earth observation satellite projected to launch in December 2020.
Parsons purchased geospatial intelligence firm OGSystems in January for $292,000,000.
Parsons used proceeds from its May initial public offering mostly to pay down net debt from $538,000,000 to $50,000,000.
During the quarter that ended 2019-03-31, Parsons received a contract worth roughly $100,000,000 from the U.S. Air Force Space and Missile Systems Center to provide integration services for small satellite launch.
Parsons completed a $534,000,000 initial public offering in May.
Parsons attributed its revenue growth to the OGSystems acquisition and its $489,000,000 purchase of defense contractor Polaris Alpha in May 2018.
Parsons won a contract in February worth up to $100,000,000 over five years from the Air Force Space and Missile Systems Center’s Launch Enterprise Directorate to serve as prime contractor for the integration of small satellites with launch vehicles.
With the acquisition of OGSystems, Parsons gains access to analysts and experts in LiDAR, synthetic aperture radar, electro-optical, hyperspectral imagery, panchromatic imagery, infrared imagery, radar, full motion video, and polarization.
More than 1,000 employees work in contractor-support roles for the Missile Defense Agency at various locations for Parsons.
Parsons bought Polaris Alpha from private equity firm Arlington Capital Partners on 2018-05-21.
A regulatory review of the Parsons acquisition of Polaris Alpha was expected to be completed the week before Polaris Alpha’s ownership transfer on 2018-06-01.
Parsons projects its revenues from government work will increase from one-third to one-half of the corporation’s overall revenues once Polaris Alpha comes under Parsons’ ownership on 2018-06-01.