US-based construction giant buys Australian-based Sinclair Knight Merz, which works in the UK, for 拢760m
US-based construction giant Jacobs is set to acquire Australian employee-owned consultancy Sinclair Knight Merz (SKM) for close to Aust$1.3bn (拢760m) in cash.
According to Reuters, Jacobs said yesterday it had been looking for new projects in the oil and gas and chemicals sectors and has historically turned to acquisitions to expand its market presence.
It has bought six other companies in the last three years.
In a statement Jacobs said: 鈥淥ur capabilities and geographies have little overlap, enabling the combined companies to continue to expand client relationships and provide significant opportunities for employees,鈥�
SKM, which has operations in , Asia, South America and the UK, serves clients in sectors ranging from mining to power plant , had Aust$1.2bn (拢700m) revenue in 2012.
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