Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
PASADENA, Calif. (AP) - To expand its reach, Jacobs Engineering Group Inc. is buying Australian consulting and engineering firm Sinclair Knight Merz for about 1.3 billion Australian dollars ($1.2 billion).
Jacobs CEO Craig Martin said in a statement Sunday that the two companies' geographic regions and capabilities had little overlap.
Jacobs provides technical and construction services to a wide variety of businesses including those in the aerospace, automotive, energy and pharmaceuticals industries. In fiscal 2012, it posted $10.9 billion in revenue. It has offices in 25 countries in the Americas, Europe, the Middle East, India, Australia, Africa and Asia.
Founded in 1964, Sinclair Knight Merz operates in Australia, Asia, South America and Britain and serves clients in the mining, building, water and power businesses. It has 6,500 employees and posted revenue of about $1.2 billion in 2012.
Pending the approval of Sinclair Knight Merz shareholders and regulators, the deal is expected to close by the end of the year.
Pasadena, Calif.-based Jacobs says it expects the deal to add to earnings.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
