Parsons to purchase BlackHorse Solutions for $203M
Both companies based in Fairfax County
Centreville-based Parsons Corp. announced Thursday it has entered into a definitive agreement to acquire Herndon-headquartered BlackHorse Solutions Inc. for $203 million. The transaction is expected to close in July.
BlackHorse, founded in 2018, works in the areas of cyber, digital operations, artificial intelligence, machine learning and full-spectrum operations, and Parsons plans to integrate the company into its federal solutions business segment, adding nearly 200 employees, most of whom have high-level security clearances. BlackHorse is expected to generate revenue of approximately $100 million in 2022.
“Adding BlackHorse increases our scale in the areas of cyber, electronic warfare and information dominance, enhancing Parsons’ position to pursue and win upcoming large joint all-domain contract opportunities, which is a key component of our national defense strategy,” Parsons Chairman and CEO Chuck Harrington said in a statement. “We have partnered closely with BlackHorse in the past, so we know our cultures are well aligned and are excited to welcome their talented team of employees to the Parsons family and leverage their exceptional reputation in the market.”
Parsons, which employs more than 16,000 people in 24 countries, works in defense, intelligence, security and infrastructure engineering, focusing on technology.
“We are thrilled to join the Parsons family,” BlackHorse President and CEO Mike Kushin said in a statement. “We share a common passion for supporting our nation’s most pressing security challenges, and joining forces continues that tradition while accelerating our growth and expanding our customer base. I’m excited for what the future holds.”
Parsons was advised by Baird and Latham & Watkins LLP, and BlackHorse was advised by Raymond James & Associates Inc. and Cooley LLP.