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Parsons Completes Acquisition Of Ipkeys Power Partners

Apr 14, 2023•over 2 years ago

Acquiring Company

Parsons

Acquired Company

IPKeys Power Partners

Privacy And SecurityInformation Technology

Description

Parsons Corporation (NYSE:PSN) announced today that it completed the previously announced acquisition of IPKeys Power Partners, Inc. for $43 million. The strategic acquisition enhances both Parsons’ Federal Solutions and Critical Infrastructure segments, specifically through comprehensive cloud-based cybersecurity, software solutions that operate at the intersection of information and operational technology (IT and OT), and technologies that will help accelerate the global clean energy transition.

Company Information

Company

Parsons

About

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed