
Tech Firm Parsons Acquires Sealing Technologies, Inc.
CIOTechOutlook Team | Thursday, 24 August 2023, 03:30 IST

The deal follows Parsons' strategy of making accretive purchases of businesses with revenue growth and adjusted EBITDA margins that are both above 10%, while also acquiring crucial intellectual property that expands the company's current portfolio. The almost 150 SealingTech staff members, 70% of whom have security clearances, will be a part of Parsons' Defense & Intelligence business area. Parsons' Federal Solutions and Critical Infrastructure customers and projects will be able to use SealingTech's capabilities.
“The addition of SealingTech is a natural extension of our growth strategy, adding critical, mission-ready solutions for our Department of Defense and Intelligence Community customers,” said Carey Smith, Parsons’ chair, president, and chief executive officer. “SealingTech’s defensive cyber capabilities complement our leading offensive cyber capabilities and increase our share in the full-spectrum cyber operations market, which is expected to receive more government funding because of accelerating and evolving cyber threats. Their mission-focused approach and passion for delivering impactful solutions for our nation’s most pressing security challenges aligns seamlessly with Parsons’ business and culture. I look forward to welcoming this talented team of employees into the Parsons’ family as we collectively imagine next.”
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