Parsons Corporation officially completes its acquisition of BlackSignal Technologies for $200 million. This acquisition integrates BlackSignal into Parsons’ Defense & Intelligence business unit and enhances Parsons’ ability to provide cutting-edge solutions across the DoD and IC. BlackSignal, known for its innovative use of AI and machine learning to disrupt hard-to-detect command and control systems, brings a wealth of expertise in full-spectrum cyber solutions, space-based signal processing, and tactical communication systems. This acquisition aligns with Parsons’ strategy of acquiring high-growth companies, positioning the corporation to capitalize on markets expected to grow by more than 10% annually.
Layoffs: Cisco
Following the growing trend of companies pivoting towards AI, Cisco announces the layoff of 5,500 workers. This latest round of layoffs follows an earlier cut of 4,000 jobs and is part of the company’s strategy to “realign” and invest more heavily in artificial intelligence. CEO Chuck Robbins repeatedly emphasized AI as the driving force behind these decisions, echoing similar strategies by other tech giants like Microsoft and Intuit.
However, critics suggest that these layoffs may have more to do with traditional cost-cutting measures than the promise of AI. Whether this shift will benefit the company in the long run remains to be seen, but it’s clear that the tech industry is increasingly using AI as a justification for workforce reductions.
Hiring: Riverside Research
Riverside Research, a national security nonprofit, is making a big move to Fairfax, VA, as part of its expansion and strategic growth efforts. This relocation consolidates its Arlington and Centreville offices into a 38,707-square-foot facility in Fairfax. Set to open in September 2024, the new location puts Riverside Research closer to key government contracting activities. The move also supports its Open Innovation Center (OIC) and Commercial Innovation Center (CIC).
Riverside Research makes a significant investment of $14.7 million in lease agreements and $7.5 million in capital improvements with the relocation. However, they’re also creating 55 high-tech jobs with $9.1 million in annual salaries. Riverside Research is poised to add 60 more high-tech positions supporting government agencies.
Cleared Employer at Work: Booz Allen
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Opportunity to Watch
LinQuest gets sold to KBR in an all-cash transaction expected to close by the end of 2024. LinQuest, which has grown significantly under Madison Dearborn Partners (MDP)’s ownership since 2018, will now benefit from KBR’s extensive network and expertise in government technology solutions. The acquisition aligns with KBR’s mission to enhance its capabilities in cybersecurity, electronic warfare, and AI, furthering its support for the U.S. Department of Defense and Intelligence Community. As LinQuest integrates into KBR, it is poised to continue driving innovation and delivering mission-critical technologies that advance U.S. national security.
