Parsons Plans IPO Valued at $3 billion

Published : Tuesday, March 12, 2019 | 4:49 AM

Old-Pasadena’s Parsons Corporation plans an initial public offering that would value the company at around $3 billion.

The company has filed paperwork for the IPO with the Securities and Exchange Commission, according to a report from Reuters.

The deal, expected to raise about $500 million, could launch in April or May, the report added.

Parsons has not publicly spoken about the IPO offering. The company, based in Pasadena for decades, recently announced that, while maintaining its local presence, it was moving corporate headquarters to Centerville, Va.

Parsons said in January that it bought OGSystems, an innovative solutions provider with advanced technologies in geospatial intelligence, big data analytics, and threat mitigation.

The acquisition was the corporation’s third in 14 months.

In 2018, Parsons acquired Polaris Alpha, a technology-focused provider of mission solutions for complex defense, intelligence, and security customers.

Scooping up these smaller companies in the defense and intelligence sectors, bolsters Parson’s customer list and increases its investment appeal, according to the report.

Parson’s footprint in Pasadena continues to evolve. Its iconic Old Pasadena headquarters is currently the site of a large construction project as its former parking lots are transformed into 100 West Walnut, a 6.4 acres acres development which will include 210,000 square feet of office space, 400 residential units, 17,500 square feet of retail and dining space, and three levels of below-grade parking.

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