Parsons moves toward initial public offering

Parsons today said it has "confidentially" submitted a draft registration statement to the Securities and Exchange Commission relating to a proposed initial public offering of its common stock.

"The number of shares to be offered and the price range for the proposed offering have not yet been determined," the company said. "The initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions."

Parsons has been actively seeking to grow its federal work, making multiple recent acquisitions. In January, the company announced it acquired OGSystems, which specializes in geospatial intelligence, big-data analytics and threat mitigation.

Last year, Parsons bought Polaris Alpha, significantly expanding the company's federal unit.