Parsons Acquires Chesapeake Technologies International For $89 Mln
(RTTNews) - Parsons Corp. (PSN), Tuesday announced the acquisition of Maryland-based Chesapeake Technologies International, Corp (CTI), a portfolio company of Bluestone Investment Partners, for $89 million.
The deal is expected to strengthen Parsons' portfolio and position it to capture a larger share of the full-spectrum operations market.
Moreover, the company expects the transaction to be accretive to its fiscal year revenue growth rate, adjusted EBITDA margin, and adjusted diluted earnings per share.
Monday, PSN closed at $71.77, up 1.70 percent on the New York Stock Exchange.
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