Acquisition will accelerate and transform warfighter
technology
- Combined solutions will accelerate innovative, tech-enabled
solution delivery at the edge
- PAR Government Systems Corporation’s IP and technical workforce
will strategically augment Booz Allen’s capabilities in situational
awareness, decision advantage, and countering uncrewed aerial
systems (UAS) threats
- Acquisition will enable improved outcomes for agencies in
national defense and beyond
Booz Allen Hamilton (NYSE: BAH) announced today that it has
acquired PAR Government Systems Corporation (PGSC), a wholly owned
subsidiary of PAR Technology Corporation (NYSE: PAR). The
acquisition will combine PGSC’s edge technologies with Booz Allen’s
deep mission expertise and digital battlespace solutions to
accelerate and transform warfighter technology on the front
lines.
Founded in 1985 and headquartered in Rome, New York, PGSC
delivers differentiated services and solutions in strategic mission
areas, including the provision of real-time communications and
mobile situational awareness to maintain battlespace dominance.
PGSC’s Integrated Tactical Solutions (ITS), Innovative and
Commercial Solutions (ICS), and Intelligence and Readiness
Operations (IRO) businesses have long-standing track records of
innovation and development of technology-driven solutions for a
range of government customers.
As a leading defense technology provider for the Department of
Defense, Booz Allen combines deep mission expertise with advanced
technology to accelerate results across the warfighting lifecycle.
The acquisition strengthens the firm’s ability to meet the evolving
needs of defense clients and adds highly technical and cleared
talent with mission-relevant expertise to Booz Allen’s already
strong global defense talent base.
Additionally, PGSC’s capabilities complement Booz Allen’s space
data solutions, increasing the firm’s ability to leverage dual-use
commercial intelligence, surveillance, and reconnaissance (ISR) to
augment situational awareness capabilities for operators at the
edge. PGSC’s suite of imagery and communications tools will also
provide key operational mission capabilities that enable scaled
operational planning, data sharing, visualization, and target
management.
PGSC will integrate into Booz Allen’s global defense business
led by Sector President Judi Dotson. The acquisition further
broadens and deepens Booz Allen’s ability to bring cutting-edge
technologies to evolving defense missions and deliver innovative
solutions to warfighters in the digital battlespace.
“With increasing threats to joint all domain operations and
heightened geopolitical uncertainty, securing the nation’s future
against the pacing threat requires industry to invest and innovate
in new ways. This acquisition reinforces Booz Allen’s commitment to
help accelerate the modernization of tactical warfighting mission
systems and secure the future,” said Dotson.
Combining PGSC’s skilled workforce, innovative capabilities and
products, and dedicated client commitment with Booz Allen’s
software development capabilities, talent, and deep mission
expertise will expand and enhance multiple solutions that address
urgent national security priorities and geopolitical challenges,
including tools to deliver advanced geospatial mapping, counter
uncrewed aerial systems (C-UAS), improve situational awareness, and
support proliferated Low Earth Orbit (pLEO) space data
solutions.
“Booz Allen and PGSC share a deep commitment to addressing the
evolving and systemic threats the nation faces with technology and
solutions that drive greater mission outcomes,” said Michael
Nelson, president at PGSC. “We look forward to applying our
combined solutions for greater and broader impact on missions that
matter, and infusing our analytical development with increased
resources, tools, team members, and industry-level best practices
to empower the nation’s warfighters and meet these next-gen warfare
demands.”
The acquisition continues to strengthen Booz Allen’s position at
the intersection of mission and technology, aligned with the firm’s
VoLT (Velocity, Leadership, Technology) growth strategy, its
investment thesis, and current and anticipated Department of
Defense priorities.
Jefferies LLC and King & Spalding LLP advised Booz Allen on
the transaction. Baird and Gibson, Dunn & Crutcher LLP advised
PAR Technology Corporation.
About Booz Allen Hamilton
Trusted to transform missions with the power of tomorrow’s
technologies, Booz Allen Hamilton advances the nation’s most
critical civil, defense, and national security priorities. We lead,
invest, and invent where it’s needed most—at the forefront of
complex missions, using innovation to define the future. We combine
our in-depth expertise in AI and cybersecurity with leading-edge
technology and engineering practices to deliver impactful
solutions. Combining 110 years of strategic consulting expertise
with the perspectives of diverse talent, we ensure results by
integrating technology with an enduring focus on our clients. We’re
first to the future—moving missions forward to realize our purpose:
Empower People to Change the World®.
With global headquarters in McLean, Virginia, our firm employs
approximately 34,200 people globally as of March 31, 2024, and had
revenue of $10.7 billion for the 12 months ended March 31, 2024. To
learn more, visit www.boozallen.com. (NYSE: BAH)
About PAR Technology
For more than 40 years, PAR Technology’s (NYSE: PAR)
cutting-edge products and services have helped bold and passionate
restaurant brands build lasting guest relationships. We are the
partner enterprise restaurants rely on when they need to serve
amazing moments from open to close, during the most hectic rush
hours, and when the world forces them to adapt and overcome. More
than 70,000 restaurants in more than 110 countries use PAR’s
restaurant hardware, software, loyalty, drive-thru, and back-office
solutions. To learn more, visit www.partech.com or connect with us
on LinkedIn, Twitter, Facebook, and Instagram.
Forward Looking Statements
Certain statements contained in this release include
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Examples of
forward-looking statements include statements that do not directly
relate to any historical or current fact. In some cases, you can
identify forward-looking statements by terminology such as “may,”
“will,” “could,” “should,” “forecasts,” “expects,” “intends,”
“plans,” “anticipates,” “projects,” “outlook,” “believes,”
“estimates,” “predicts,” “potential,” “continue,” “preliminary,” or
the negative of these terms or other comparable terminology.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we can give you no
assurance these expectations will prove to have been correct.
These forward-looking statements relate to future events or our
future financial performance and involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to differ
materially from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking
statements. A number of important factors could cause actual
results to differ materially from those contained in or implied by
these forward-looking statements, including those factors discussed
in our filings with the Securities and Exchange Commission (SEC),
including our Annual Report on Form 10-K for the fiscal year ended
March 31, 2024, which can be found at the SEC’s website at
www.sec.gov. All forward-looking statements attributable to us or
persons acting on our behalf are expressly qualified in their
entirety by the foregoing cautionary statements. All such
statements speak only as of the date made and, except as required
by law, we undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
BAHPR-CO
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