Accelerates Parsons' Growth in Cyber, Space, C5ISR Markets
PASADENA, California, May 21, 2018 /PRNewswire/ -- Parsons today announced its acquisition of Polaris Alpha, an advanced, technology-focused provider of innovative mission solutions for complex defense, intelligence, and security customers, as well as other U.S. federal government customers. Parsons' acquisition of Polaris Alpha, from private equity firm Arlington Capital Partners, is the latest in the company's series of strategic investments focused on companies with technologies aligned to evolving threats in the land, sea, air, space, and cyber domains.
Parsons' existing artificial intelligence (AI), signals intelligence, and data analytics expertise supporting defensive and offensive cybersecurity missions will be expanded by the integration of Polaris Alpha's machine learning, data, video, multi-source analytics, and automated reasoning technologies. Polaris Alpha's portfolio of electromagnetic (EM) warfare, signals intelligence (SIGINT), space situational awareness, and multi-domain command and control (C2) technologies will significantly increase the scale and scope of Parsons' capabilities and customer relationships. Both companies support the U.S. intelligence community, numerous U.S. Department of Defense agencies, the Department of Homeland Security, and other federal agencies, including the National Aeronautics and Space Administration and the Department of Justice.
"The acquisition of Polaris Alpha is the latest transformative move for Parsons that takes our technology solutions strategy to a new level with customers needing advanced solutions to rapidly evolving threats," said Chuck Harrington, Parsons' Chairman and CEO. "With the integration of Polaris Alpha into Parsons, we enhance our proven artificial intelligence and data analytics expertise with new technologies and solutions, the demand for which is growing exponentially."
Polaris Alpha has more than 1,300 employees, with nearly 90% maintaining security clearances. The company's major office locations are in Colorado Springs, CO; Columbia, MD; Aberdeen, MD; and Fredericksburg, VA; with additional offices, research and development facilities, and onsite customer operations in several other states and the United Kingdom.
"Parsons and Polaris Alpha customers, many of which are common to both companies, will benefit from existing, complementary technologies and increased scale, enabling end-to-end solutions under our shared vision of rapid prototyping and agile development," said Carey Smith, President of Parsons' Federal business unit. "Our integration plan for the two companies is simple: combine Parsons' and Polaris Alpha's capabilities and cultures for the benefit of our customers and employees. We are fully committed to continuing to attract, develop, and retain the best talent in our industry."
Peter Cannito, Polaris Alpha's CEO, added, "The combination of Polaris Alpha into Parsons is a logical continuation of our strategy to deliver highly differentiated technical capabilities for the government's most critical missions. Joining Parsons significantly broadens our access to new markets, solidifies our ability to deliver at scale, and provides a unique opportunity for our employees to continue to have a meaningful role in a transformative culture and premier organization."
Polaris Alpha was formed through Arlington Capital's merger of EOIR Technologies, Intelligent Software Solutions (ISS), and Proteus Technologies. In 2017, Intelesys and Solidyn were added, and in April 2018, 4D was acquired.
"Polaris Alpha has grown rapidly both organically and through strategic acquisitions to become a recognized leader in the space and cyber domains. The strength of the Polaris Alpha management team has enabled the company to combine leading technical capabilities with a deep understanding of its customers' missions while establishing a strong, unified culture," stated Michael Lustbader, a Managing Partner at Arlington Capital. "We are excited to watch many of our key technology and infrastructure investments continue to pay dividends under Parsons' leadership."
David Wodlinger, a Partner at Arlington Capital, added, "Polaris Alpha occupies a unique market position by not only architecting and developing new cutting-edge technologies through its research and development programs, but also efficiently transitioning those same technologies to support the most critical operations conducted by the national security community in the emerging domains of warfare. We are thrilled to have played a role in that strategy and believe Parsons' increased scale and dedication to the same customers can take it to the next level."
Polaris Alpha will become part of Parsons' Federal business unit, led by Carey Smith. Baird advised Parsons on this deal.
Parsons is a digitally enabled solutions provider focused on the defense, security, and infrastructure markets. With nearly 75 years of experience, Parsons is uniquely qualified to deliver cyber-physical security, advanced technology solutions, and other innovative services to federal, regional, and local government agencies, as well as to private industrial customers worldwide. For more about Parsons, visit parsons.com, and follow us on Facebook, Twitter, LinkedIn, and YouTube.