Parsons acquires Altamira for $375M

Chantilly Fortune 1000 defense contractor Parsons announced Thursday that it has acquired McLean-based national security company Altamira Technologies for $375 million.

Parsons paid $330 million in cash at closing, with an additional $45 million cash earn out payable in the first quarter of 2027 if certain earnings before interest, taxes, depreciation and amortization (EBITDA) targets are met during 2026. Parsons anticipates Altamira will generate over $200 million of revenue this year.

Through the acquisition, Altamira’s more than 600 employees, over 90% of whom hold security clearances, will be aligned to Parsons’ defense and intelligence business unit.

“Acquiring Altamira is a strategic accelerator for our national security growth strategy, strengthening Parsons’ ability to deliver rapid and agile mission‑ready, intelligence‑driven solutions across the Department of War and the intelligence community,” Parsons President and CEO Carey Smith said in a statement.

Smith said that Altamira’s advanced intelligence, surveillance and analytics capabilities will expand Parsons’ offerings and better position the company to capture a larger share of the intelligence and multidomain operations market.

Founded in 1999, Altamira specializes in missile warnings, artificial intelligence and machine learning-enabled analytics, cyber operations, and space-based mission support. The company’s services allow customers to detect, characterize and respond to emerging threats. Before the acquisition, Altamira was a portfolio company of venture capital firm ClearSky.

“We are excited to join forces with Parsons, a partnership that reflects our shared commitment to innovation, mission excellence and delivering decisive advantages to the warfighter,” said Altamira CEO Jane Chappell in a statement.

Founded in 1944, Parsons provides technology solutions in the defense, intelligence and critical infrastructure markets. It posted $6.8 billion in 2024 revenue and has more than 19,000 employees worldwide.