Parsons Bags $170M Defense Threat Reduction Order

Parsons Corp PSN has secured a task order from the Defense Threat Reduction Agency (DTRA) with a $170 million ceiling value.

The project comes under the Assessments, Exercises, Modeling, and Simulation Support indefinite-delivery, indefinite-quantity multiple award task order contract.

The task is to provide continued support to the agency consisting of a one-year base period and four one-year option periods under the company's Federal Solutions segment.

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Parsons will conduct vulnerability assessments, technical support projects, design reviews, and analyses in support of Department of Defense (DOD) and DTRA efforts.

The order work also includes support to DTRA's Nuclear Enterprise Directorate operational programs.

"Parsons is a trusted partner and security solutions provider to organizations around the globe," said Jon Moretta, president, Engineered Systems, for Parsons.

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Price Action: PSN shares closed higher by 0.92% at $48.20 on Tuesday.