Jay Clemens
Jacobs Engineering Group has acquired Australian professional services company Sinclair Knight Merz for $1.2 billion in an effort to expand in various regions, the Los Angeles Times reported Monday.
Stuart Pfeifer writes that Jacobs anticipates its annual revenue to grow by 10 percent due to the transaction.
Craig Martin, Jacobs CEO, told the newspaper the company intends for the Sinclair buy to diversify its geographic offerings and markets.
“We look forward to integrating the two companies and see many excellent opportunities ahead to support our clients, develop our people and grow our business,†he said.
Sterne, Agee & Leach analyst Michael Dudas told the LA Times Jacobs plans to expand its services in South America, Britain, Asia and Australia through the acquisition.
