{"id":449193,"date":"2021-03-03T05:03:32","date_gmt":"2021-03-03T10:03:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=449193"},"modified":"2021-03-03T05:03:32","modified_gmt":"2021-03-03T10:03:32","slug":"jacobs-takes-majority-stake-in-pa-consulting-to-form-strategic-partnership","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/jacobs-takes-majority-stake-in-pa-consulting-to-form-strategic-partnership\/","title":{"rendered":"Jacobs Takes Majority Stake in PA Consulting to Form Strategic Partnership"},"content":{"rendered":"
\n

Further enables shift to a global leader in high-value solutions<\/h2>\n

Continue to expect $0.52 to $0.57 of adjusted EPS accretion from PA for fiscal 2022<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n DALLAS<\/span>, March 3, 2021<\/span> \/PRNewswire\/ —\u00a0Accelerating its growth strategy as a leading technology-enabled solutions provider, Jacobs<\/a> (NYSE:J) has taken a 65% stake in PA Consulting<\/a>, a leading innovation and transformation consulting firm. The investment places an enterprise value of PA at \u00a31.825 billion ($2.5 billion<\/span>1<\/sup>) and transforms PA into a global player at scale. The remaining 35% stake is held by PA employees. <\/p>\n

“This strategic partnership accelerates our strategy to become a leader in bringing greater innovation and creativity to respond to current-day challenges such as climate change, cyber, urbanization and the ongoing healthcare crisis,” said Jacobs Chair and CEO Steve Demetriou<\/span>. “PA has delivered strong growth over the last five years and together our organizations will set a new industry benchmark in differentiated solutions that deliver superior end-to-end value for Jacobs and PA clients, employees and investors.”\u00a0 <\/p>\n

Paving the way for closing, the transaction was overwhelmingly approved by PA employees and shareholders, with 99.9% voting in favor of the partnership. Voluntary election for management rollover was fully subscribed, indicating the enthusiasm and commitment of PA partners and employees about the growth opportunity. <\/p>\n

CEO of PA Consulting Ken Toombs said:\u00a0“The completion of Jacobs’ investment marks the beginning of an exciting new chapter for PA. Jacobs’ culture, values and client base are closely aligned to our own, making them a natural marketplace partner. Their complementary capabilities will further strengthen our ability to deliver innovative solutions for our clients. The overwhelming support of PA shareholders for the transaction is a testament to the great potential we all see in this partnership.”<\/p>\n

The partnership respects and preserves PA’s independence and heritage, and advances opportunities for both Jacobs and PA employees through collaboration and co-creation of innovative solutions for clients. Joint go-to-market teams are aimed at high growth sectors of Health and Life Sciences, Public Services, Consumer and Manufacturing, and Defense and Security to help address some of the world’s most critical challenges.<\/p>\n

PA’s reputation for tackling these challenges is evidenced by their work in:\u00a0 <\/p>\n