Jacobs Engineering Acquires Sinclair Knight Merz for Approximately $1.2B

Jacobs Engineering Group Inc.

announced today that it entered into a merger implementation agreement with Sinclair Knight Merz (SKM), a 6,500-person professional services firm headquartered in Australia, for approximately AUS$1.3 billion in cash (approximately US$1.2 billion as of the date of this release). The purchase price reflects an enterprise value of AUS$1.2 billion (US$1.1 billion) plus adjustments for cash, debt and other items. The transaction is subject to approval through a Scheme process that includes SKM shareholder and Australian Federal Court approval, Australian Foreign Investment Review Board approval as well as other customary closing conditions. The transaction is expected to close by the end of Jacobs' first quarter of Fiscal Year 2014, and