U.S. federal government services firm expands AECOM's presence in the
U.S. intelligence market
LOS ANGELES, Aug 27, 2010 (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
completed its acquisition of McNeil Technologies, Inc., a leading
government national security and intelligence services firm based in
Springfield, Va., from the private equity firm Veritas Capital and
certain management shareholders.
"McNeil Technologies expands AECOM's U.S. government business and
advances our ability to participate in fast-growing markets," said John
M. Dionisio, AECOM president and chief executive officer. "McNeil brings
a unique expertise to AECOM in intelligence, information technology and
cyber security - and diversifies our strong base of federal government
relationships. We now have a significant presence in the high-growth
national security market."
Under the terms of the agreement, stockholders of McNeil receive cash of
US$355 million. 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.
Ronald Thomas, McNeil chief executive officer, said, "AECOM is the ideal
partner to help McNeil capitalize on opportunities in the national
intelligence market, given its strong reputation and presence in the
government market sector."
AECOM (NYSE: ACM) 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 47,000 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. A Fortune 500 company, AECOM
serves clients in more than 100 countries and had revenue of $6.3
billion during the 12-month period ended June 30, 2010. 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 plans for future operations, expected revenue or
earnings per share.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 June 30, 2010, 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, including any statements of plans for future
operations, expected revenue or earnings per share.
SOURCE: AECOM Technology Corporation
AECOM Technology Corporation
SVP & Chief Communications Officer