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|AECOM acquires India's Spectral Services Consultants Pte. Ltd.|
LOS ANGELES, Jun 13, 2011 (BUSINESS WIRE) --
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 acquired Spectral Services Consultants Pte. Ltd. (Spectral), a building services consultancy based in Noida, India.
Spectral is a 500-employee, Indian market leader in the provision of mechanical, electrical and specialist consultancy services for national and global clients who are looking to minimize their environmental footprint.
The company was founded in 1980 on the value proposition of embracing green buildings in India and was the first non-U.S. firm to have its projects achieve the internationally recognized LEED Platinum standard. Spectral currently is responsible for 16 LEED Platinum buildings and is respected for its work in setting sustainability policies for private and government clients.
"The addition of Spectral to the AECOM family advances our Asian strategy and demonstrates our commitment to investing in emerging geographies," John M. Dionisio, AECOM president and chief executive officer. "Welcoming Spectral to AECOM enables both firms to expand our growth opportunities. Spectral's 31-year track record of serving clients across all aspects of India's facilities market further strengthens AECOM's ability to win complex and demanding projects in this key growth region. Its prominence in the hotel, leisure and commercial office sectors, as well as its growing reputation in the health care facilities arena, will complement AECOM's offerings across India and Asia."
AECOM expects the transaction to be accretive to cash earnings per share (EPS) in fiscal year 2011. On a GAAP basis, the transaction is expected to be neutral to EPS in fiscal year 2011, but accretive in fiscal year 2012.
Spectral Chairman and Managing Director Dr. Prem C. Jain echoed Dionisio's sentiment. "Joining AECOM presents a further catalyst to achieve our growth objectives. AECOM's worldwide platform and diverse services will add value to our offerings for existing and new clients as well as create greater professional-development opportunities for our people."
AECOM is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 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 create, enhance and sustain the world's built, natural and social environments. A Fortune 500 company, AECOM serves clients in approximately 125 countries and had revenue of $7.3 billion during the 12 months ended March 31, 2011. 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 projections of earnings, statements of plans for future operations or expected revenue.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 quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2011, and our other reports filed with the U.S. Securities and Exchange Commission.AECOM does not intend, and undertakes no obligation, to update any forward-looking statement.
SOURCE: AECOM Technology Corporation