Cost and project management consultancy firm expands AECOM's
portfolio of construction management services as well as its global
LOS ANGELES, Oct 06, 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 Davis Langdon, a global cost and project
management consultancy firm, in Australia and New Zealand, Europe, the
Middle East and the United States.
Davis Langdon provides cost and project management services, and
specialist consultancy services, to clients around the world. Davis
Langdon's 2,800 employees serve public- and private-sector clients in a
variety of markets. Its counterpart in Asia, Davis Langdon & Seah,
remains independent, but continues to work with AECOM's Davis Langdon
operations under an existing collaboration agreement.
"Davis Langdon's strong cost and project management capabilities enhance
our growing construction management services portfolio," said John M.
Dionisio, AECOM president and chief executive officer. "Combined with
our recent acquisition of Tishman Construction, we have significantly
bolstered AECOM's ability to meet clients' growing needs for turnkey,
integrated services - and we have done so by adding two recognized,
global industry leaders to the AECOM team."
"The addition of Davis Langdon is another example of our continued
commitment to execute on our global growth and diversification strategy.
Davis Langdon's presence in growth markets positions us well to offer
our clients a comprehensive, worldwide program management solution,"
The acquisition of Davis Langdon's South Africa operations is expected
to be complete by the end of October 2010. The transactions, including
Davis Langdon South Africa, are valued in the aggregate at approximately
AECOM expects the transactions to be accretive to cash earnings per
share (EPS) in fiscal year 2011. On a GAAP basis, the transactions are
expected to be neutral to EPS in fiscal year 2011.
Davis Langdon has worked on many high-profile projects around the world,
including the Tate Modern and the Eden Project in the United Kingdom;
Estadio do Dragao in Portugal; New Doha International Airport; Grand
Egyptian Museum in Cairo, Egypt; The Clem Jones Tunnel (CLEM7) in
Brisbane, Australia; the Transbay Terminal in San Francisco, U.S.A.; the
Gautrain Rapid Rail Link in Johannesburg, and the Green Point Stadium -
newly built for the 2010 FIFA World Cup - in Cape Town, South Africa.
"We are excited to be joining with AECOM," said Rob Smith, chairman of
Davis Langdon's international board of directors and senior partner of
its Europe and Middle East region. "Our clients are looking for
integrated solutions and access to global knowledge. AECOM's global
services platform enables Davis Langdon to deliver our front-end cost
and project management, and consultancy services as part of a complete
end-to-end offer. This will allow us to better serve our global
customers while presenting our employees with new long-term growth
opportunities. We look forward to further growing our presence in the
markets we share with AECOM and leveraging their global platform to
enter new growth areas."
Under the terms of the agreements, Davis Langdon will receive
approximately 82 percent of the consideration in cash and 18 percent in
AECOM common stock.
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 51,000 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 or expected earnings and
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 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
SOURCE: AECOM Technology Corporation
AECOM Technology Corporation
Paul Gennaro, 212-973-3167
SVP & Chief Communications Officer