Parsons Corporation said it has agreed to acquire Altamira Technologies Corp. in a transaction valued at up to $375 million, strengthening its footprint across defense, intelligence, cyber and space missions.
Parsons will pay $330 million in cash at closing, with up to an additional $45 million payable in the first quarter of 2027 if Altamira meets specified earnings targets in 2026. The deal values Altamira at 12.8 times its projected 2026 adjusted EBITDA, Parsons said.
Based in McLean, Virginia, Altamira provides missile warning systems, artificial intelligence and machine learning-enabled analytics, space-based mission support, and signals intelligence and cyber capabilities. The company is known for rapidly transitioning prototypes into operational use for the U.S. Defense Department and the intelligence community.
Parsons Chair, President and Chief Executive Carey Smith said the acquisition aligns with the company’s national security growth strategy. “Altamira’s advanced intelligence, surveillance, and reconnaissance, and analytics capabilities, plus their space-based mission solutions expand our capabilities and position us to capture a larger share of the rapidly evolving intelligence and multi-domain operations market,” she said.
Altamira Chief Executive Jane Chappell said the transaction reflects a shared emphasis on innovation and mission delivery. “Our cultures are deeply aligned with both organizations prioritizing agility, technical excellence, and a relentless focus on customer mission outcomes,” she said.
Altamira has been backed by investors including ClearSky, McNally Capital, Razor’s Edge and NIO Advisors. Parsons said it expects Altamira to generate more than $200 million in revenue in 2026 and that the acquisition will be accretive to revenue growth, adjusted EBITDA margin and adjusted earnings per share that year.
Barclays acted as exclusive financial adviser to Parsons, while Baird served as exclusive financial adviser to Altamira.
