Jacobs has completed a transaction with PA Consulting through which it secured a 65 percent stake in the U.K.-based management consulting company. The investment placed an enterprise value of $2.5 billion to PA Consulting and the move is expected to drive Jacobs' growth strategy as a leading technology-enabled solutions provider. The purchase was approved by PA employees and shareholders, with 99.9 percent voting in favor of the partnership.
Jacobs has agreed to purchase a 65 percent ownership stake in management consultancy PA Consulting as part of a strategic partnership deal. "Our partnership with PA forms a unique offering in the market that combines strategic front-end consulting and deep domain knowledge across key sectors with next generation science and technology expertise," said Jacobs Chair and CEO Steve Demetriou.