Parsons buys Altamira for $330M cash

Parsons Corp. has acquired Altamira Technologies Corp. at a cash price of $330 million to incorporate more offerings in analytics and the field of ISR – intelligence surveillance and reconnaissance.

Altamira opened for business in 1999 and describes its core focus areas as including missile warning, artificial intelligence and machine learning, space‑based mission support, signals intelligence, and cyber operations.

This transaction announced Thursday adds roughly 600 employees to Parsons, which is moving to grow its presence across the intelligence community and Indo-Pacific region through the move.

Parsons could pay an additional $45 million in the first quarter of 2027 if certain profit targets are met during 2026, which would raise the enterprise value to $375 million. Parsons expects the Altamira business to contribute $200 million in revenue for 2026.

With Altamira in tow, Parsons is also looking to bolster its ability to move prototype technologies into the operational and deployment phase. Both the Defense Department and intelligence community have prioritized quicker fielding of tech tools in recent years.

“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’ chief executive Carey Smith said in a release. “Altamira’s advanced intelligence, surveillance, and reconnaissance (ISR), 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."

Barclays acted as the exclusive financial adviser to Parsons. Baird acted as the exclusive financial adviser to Altamira.

Parsons is one of the government market’s more serial acquirers and integrators, having frequently used this leg of its strategy to build out the company’s defense and intelligence tech portfolio.

In 2025, Parsons acquired software integrator Chesapeake Technology International for $89 million to bring in more products for managing the electromagnetic spectrum. In 2024, Parsons purchased BlackSignal Technologies for $200 million to grow the electronic warfare portfolio.

Altamira has been backed since 2019 by a group of investors led by ClearSky, a venture capital and growth equity firm focused on security technology companies. ClearSky’s partners in this investment included McNally Capital, Nio Advisors and Razor’s Edge.

With that support, Altamira has also used acquisitions as a way to expand its intelligence business. Altamira’s buy of Virginia Systems & Technology in 2023 sought to further integrate operations and engineering functions into the larger offering.