Jacobs Solutions To Acquire Certain Assets Of Black & Veatch´s Government Services Business For $375 Million

Jacobs Solutions (NYSE:J) announced today that it has entered into an agreement to acquire certain assets of Black & Veatch´s government services business for $375 million in cash.

The transaction is expected to close in the second quarter of 2023, subject to customary closing conditions.

The acquisition will add approximately $200 million of annual revenue to Jacobs and is expected to be accretive to earnings per share in the first full year after closing.

Jacobs is a global technology-driven solutions company serving the aerospace, defense, nuclear, oil and gas, and infrastructure markets.

Black & Veatch is a global engineering, consulting and construction company.

The acquisition will allow Jacobs to expand its government services business and provide a broader range of services to its clients.

Jacobs is acquiring certain assets of Black & Veatch´s government services business, including its contracts, backlog and employees.

The acquisition will add approximately $200 million of annual revenue to Jacobs.

The transaction is expected to close in the second quarter of 2023, subject to customary closing conditions.

The acquisition is expected to be accretive to earnings per share in the first full year after closing.