|AECOM completes acquisition of McNeil Technologies|
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