Parsons Corporation (NYSE:PSN) shares gained 1.8% on Wednesday after the defence contractor announced that it had secured a position on a $14 billion contract supporting U.S. missile and space intelligence activities.
The company was selected for the Contract Operations for Missile Evaluation and Testing (COMET) multiple-award, indefinite delivery, indefinite quantity contract, which supports the Missile & Space Intelligence Center (MSIC) and its mission partners throughout the Defense Intelligence Enterprise.
Parsons to compete for COMET task orders
Under the contract, Parsons will compete for individual task orders covering scientific and technical intelligence, foundational military intelligence and services that enable intelligence analysis.
Potential assignments include research and development, systems integration and sustainment of hardware, software and other capabilities. Parsons may also provide analytical services supporting all-source intelligence assessments.
The COMET programme contributes to MSIC’s work analysing foreign weapons systems. Its assessments are used by military personnel, policymakers, weapons developers, homeland security organisations and Intelligence Community partners to evaluate the capabilities, performance, operations, limitations and vulnerabilities of foreign systems.
Decades of missile and space intelligence experience
Parsons has supported U.S. missile, space and intelligence missions for more than 35 years, building expertise across scientific and technical intelligence, mission systems analysis, advanced modelling and simulation, systems engineering and threat assessment.
The company operates in locations including Huntsville and Dayton and has maintained continuous involvement in major mission-analysis programmes at Redstone Arsenal.
Altamira acquisition expands intelligence capabilities
Parsons has also strengthened its intelligence operations through the acquisition of Altamira Technologies.
The transaction added more than two decades of experience in intelligence solutions, advanced analytics, software and systems development and technical intelligence support to Parsons’ existing capabilities.
Securing a place on the $14 billion COMET contract does not guarantee Parsons the entire contract value, as the company will compete for individual task orders. However, the award gives Parsons access to a significant long-term contracting vehicle covering areas closely aligned with its established missile, space and intelligence expertise.