US-based Parsons, a technology-driven engineering services firm, has announced the acquisition of Williams Electric Company, a privately owned, value-added company specialising in control system integration, electrical and general contracting, and energy infrastructure solutions.
Williams Electric is headquartered in Ft. Walton Beach, FL, with company offices in Virginia and Maryland and employees located at more than 100 customer sites in the US and abroad.
The company’s customers include numerous Department of Defense organisations and a wide range of other US government agencies and organisations, said a statement.
Chuck Harrington, chairman and CEO, Parsons, said: “This acquisition should be viewed as the latest investment within our strategy to grow our leadership position in protecting critical infrastructure assets from threats targeting connected operational technologies, including control systems.”
“Operational technology (OT) is the new IT in terms of where cyber threats are accessing the connected enterprise. Our strategy is simple—integrate our growing control system leadership with our unmatched cyber capabilities to fulfil our promise of unique, converged OT protection for critical infrastructure assets,” he said
Williams Electric and Parsons share several significant customer relationships within the US government, including the US Army Corps of Engineers as well as numerous classified customer engagements. Parsons is projecting significant US and international growth of its control system business following the Williams Electric acquisition, it said.
Carey Smith, president of Parsons’ federal business unit, said: “Parsons’ existing contractual relationships with numerous customers within the Departments of Defense, Energy, and Veterans Affairs and elsewhere are ideal environments for our now expanded control system offering.”
“And, certainly in regions such as the Middle East where we have been a tier-one player for decades, Williams Electric will bring new opportunities on both sides of the acquisition,” he added.
Within the broader OT sector, the control system market alone is a $50 billion market and projected to have a compound annual growth rate of more than 10 per cent in the next five years. Forward-leaning initiatives such as “smart cities,” next-generation automation of manufacturing, and government-mandated cyber standards for critical infrastructure assets will all rely on innovative control system technologies.
“Parsons intends to become the name synonymous with fully converged protection of control systems,” said Smith.
“Connectivity and the Internet of Things are both necessary and the origin of the evolving threat to critical infrastructure. At the control system level, whether it’s a networked surveillance or smart HVAC system, we intend to stay ahead of the threat curve,” he added.
Dan Rucker, president of Williams Electric Company, said: “Joining forces with Parsons was the right strategic move for both companies.”
“The market for converged critical infrastructure protection technology is evolving quickly, and the integration of our two companies creates a single-source end-to-end solutions provider for integrated physical and cyber protection solutions,” he concluded. – TradeArabia News Service