Parsons Expands Connected Vehicle Leadership, Delivering Statewide V2X Management System for the Utah Department of Transportation
Parsons (NYSE: PSN) was selected by the Utah Department of Transportation to deliver a statewide Vehicle-to-Everything (V2X) Maintenance and Management System under a 10-year agreement.
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Rhea-AI Summary
Parsons (NYSE: PSN) was selected by the Utah Department of Transportation to deliver a statewide Vehicle-to-Everything (V2X) Maintenance and Management System under a 10-year agreement.
Parsons will deploy its cloud-based iNET® software to provide real-time system health monitoring, performance analytics, and operational insights to manage Utah’s connected vehicle devices at scale.
Positive
- 10-year agreement to operate statewide V2X management
- Deployment of cloud-based iNET platform across Utah
- New statewide customer relationship for Parsons
- Real-time system health monitoring and performance analytics
Negative
- Contract value not disclosed, limiting revenue visibility
Details
News Market Reaction – PSN
On Apr 6, the day this news came out, PSN closed 0.11% above the previous close.
Data tracked by StockTitan Argus for the Apr 6 session.
Key Figures
- Contract term
- 10-year agreement
- Utah DOT statewide V2X Maintenance and Management System
- Contract value
- $389 million
- I-64 Hampton Roads Express Lanes Norfolk Segment 1B design-build contract
- Express lane length
- 45 miles
- Continuous regional Express Lane network for Hampton Roads
- Labor savings
- $4.5M
- Annual labor savings from ODOT iNET® pilot
- Crash reduction
- 34%
- Crash reduction on US 23 deployment using iNET®
- Classified extension
- Over $47 million
- Classified U.S. government contract extension announced March 19, 2026
- CHRO bonus
- $250,000
- One-time cash bonus linked to CHRO retirement
- RSU grant
- 45,433 shares
- Restricted stock units granted to Chief Legal Officer
Historical Context
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Announcement of Q1 2026 results release date and conference call details.
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Selected as project management consultant for Al Ittihad Sports Village in Saudi Arabia.
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Named lead designer for I-64 Hampton Roads Express Lanes Norfolk Segment 1B.
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Reported global traction and performance benefits from iNET® Smart Mobility Platform deployments.
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Announced classified U.S. government contract award valued over $47 million with option periods.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
vehicle-to-everything (v2x) technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
CHANTILLY, Va., April 06, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced that the company has been selected by the Utah Department of Transportation (UDOT) to develop, implement, and maintain a statewide Vehicle-to-Everything (V2X) Maintenance and Management System, further expanding the company’s leadership in connected vehicle technologies and intelligent transportation. The contract represents new work for the company.
Under the 10-year agreement, Parsons will deploy its industry leading iNET® software solution to deliver a cloud based, statewide system capable of managing and maintaining Utah’s growing ecosystem of connected vehicle devices. The platform will provide UDOT with real-time system health monitoring, performance analytics, and enhanced operational insights to help UDOT efficiently operate, maintain, and scale its V2X infrastructure across the state.
“We look forward to leveraging our proven track record in implementing iNET-based Advanced Traffic Management Solutions to help improve connectivity in collaboration with UDOT,” said Mark Fialkowski, president, Infrastructure North America for Parsons. “The statewide deployment of our iNET® V2X platform demonstrates our technical maturity and continued investment in innovative, scalable solutions that empower agencies to operate safer and more efficient transportation networks.”
This award establishes a new statewide customer relationship for Parsons and further strengthens the company’s growing portfolio of V2X ecosystem management solutions, supporting transportation agencies as they modernize infrastructure and prepare for the future of connected and automated mobility.
For more information on Parsons’ iNET® platform and smart mobility technologies, visit https://www.parsons.com/products/inet/.
About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.
Media Contact:
Bernadette Miller
+1 980.253.9781
Bernadette.Miller@parsons.com
Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
Dave.Spille@parsons.us
FAQ
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