Jacobs Completes £1.2bn Acquisition of Remaining PA Consulting Stake
Jacobs acquired the remaining PA Consulting equity for upfront £1.2 billion ($1.6 billion), paying 80% cash and 20% shares plus deferred £75 million ($99.8 million) consideration. The transaction, funded by cash-on-hand and debt, is expected to be accretive to adjusted EPS within 12 months.
1. Acquisition Details
Jacobs has completed the acquisition of the remaining equity interest in PA Consulting for approximately £1.2 billion ($1.6 billion) upfront, with payment of 80% in cash and 20% in Jacobs shares. The transaction includes deferred consideration of £75 million ($99.8 million) payable on the two-year anniversary in cash, shares, or a combination thereof.
2. Strategic Rationale and Financial Impact
Full ownership of PA Consulting enhances Jacobs’s advisory, digital innovation and major program delivery capabilities across infrastructure, energy, life sciences and other sectors. Management expects the deal to be accretive to adjusted EPS within the first 12 months after closing, supporting margin expansion and long-term value creation.
3. Transaction Approval and Financing
The acquisition was overwhelmingly approved by PA shareholders, with over 97% of votes cast representing 99% of share value in favor. Funding was provided through a combination of cash-on-hand and existing plus incremental debt facilities.