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|AECOM to Acquire Tecsult, Add Hydropower Expertise|
1,100-employee engineering firm will expand AECOM's energy practice, strengthen global portfolio of services, extend presence globally
LOS ANGELES--(BUSINESS WIRE)--Feb. 11, 2008--AECOM Technology Corporation (NYSE: ACM), a leading provider of professional technical and management support services for government and commercial clients around the world, announced today that it has agreed to acquire Tecsult, Inc., an international engineering firm based in Montreal, Quebec, Canada, that serves clients in a variety of markets, including energy, transportation, facilities and environmental.
Tecsult will be an important addition to AECOM, as it will align with three core areas of AECOM's growth strategy. Tecsult's hydropower expertise - a primary strength of the 1,100-employee firm - will bolster AECOM's energy practice, particularly as the world focuses on viable areas of alternative sources for energy. Tecsult will also be an integral part of AECOM's international development group, assisting developing nations of the world in attaining their basic infrastructure needs such as water, energy and transportation. Additionally, Tecsult will further strengthen AECOM's global infrastructure practice, especially within the Canadian infrastructure market.
"Welcoming Tecsult to the AECOM family will provide both firms with outstanding global growth opportunities," said John M. Dionisio, AECOM president and chief executive officer. "AECOM is expanding its energy practice - particularly in hydropower - and we are expanding the broad portfolio of expert services that we can deliver to our clients around the world."
Founded in 1961, Tecsult has completed projects in more than 80 countries on five continents.
"We are excited about the opportunities on the horizon for our employees and our clients as part of the AECOM team. We are very proud to become AECOM's global center of excellence in hydropower and dams, and to be taking a leadership role in AECOM's international development program," said Luc Benoit, Tecsult president and chief executive officer. "We look forward to leveraging AECOM's global platform to better serve existing clients and reach new ones, while also providing new professional development opportunities for our employees." Benoit will take on a greater role in the combined organization and will also join AECOM's Leadership Council.
The acquisition has been approved by Tecsult shareholders and is subject to customary closing conditions, including necessary regulatory approvals.
AECOM (NYSE: ACM) is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental and energy. With more than 33,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation, and technical excellence in delivering solutions that enhance and sustain the world's built, natural, and social environments. AECOM serves clients in more than 60 countries and had revenue of $4.2 billion during fiscal year 2007. More information on AECOM and its services can be found at www.aecom.com.
Forward-Looking Statements: All statements in this press release other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, including but not limited to contemplated acquisitions, and any statements regarding future economic conditions or performance. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements are set forth in our annual report on Form 10-K for the fiscal year ended Sept. 30, 2007, and our other reports filed with the Securities and Exchange Commission. AECOM does not intend, and undertakes no obligation, to update any forward-looking statement.
CONTACT: AECOM Technology Corporation