Jacobs completes merger with Sydney-based Sinclair Knight Merz
Jacobs Engineering Group Inc has completed its merger with Sinclair Knight Merz (SKM), according to a press release published by Business Wire. Jacobs, an American company, bought SKM for around $1.3 billion ($1.2 billion) in cash. The completed deal was made in accordance to previously-announced terms, the report said.
SKM is an Australia-based professional services firm that employs 6,900 people. The company has broad consulting, engineering, planning, construction, architecture, and scientific management capabilities as its services. The service provider operates in Australia, South America, Asia, and the UK. SKM caters to clients from Mining and Metals, Water and Environment, Power and Energy, and Building and Infrastructure industries. The firm was founded in 1964, the report said.
Jacobs President and Chief Executive Officer Craig Martin said of the merger deal, "The combination of Jacobs and SKM further diversifies our geographic offerings and the end-markets we serve. 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."