Benzinga | Jul 23, 2021 07:38AM EDT

Parsons Joint Venture Secures $567M Contract From Missile Defense Agency

* Mobius Parsons Solutions, a joint venture between Parsons Corp (NYSE:PSN) and Mobius Consulting, LLC, has secured a $567 million contract by the Missile Defense Agency (MDA) for the Technical, Engineering, Advisory, and Management Support (TEAMS)--Next Systems Test Support contract.

* The contract has a three-year base, with one three-year option and an additional six-month option.

* Parsons will provide test planning, execution, and analysis services to span MDA's test enterprise, including flight testing, ground testing, cyber testing, wargames and exercises foreign test support, and overarching organizational test support.

* Price action: PSN shares closed lower by 1.27% at $38.93 on Thursday.