Jacobs (NYSE:J) announced today the completion of its acquisition of the remaining equity interest in PA Consulting, a leading innovation and transformation consultancy.
The transaction, valued at an upfront consideration of approximately £1.2 billion (~$1.6 billion) plus £75 million in deferred consideration, brings Jacobs' ownership to 100%.
The deal was overwhelmingly supported by PA’s stakeholders, with over 97% of voting shareholders—representing more than 99% of the share value—approving the move.
The acquisition was funded through a disciplined mix of 80% cash and 20% Jacobs common stock, utilizing cash on hand along with existing and incremental debt facilities.
To support the cash component, Jacobs successfully priced $1.3 billion in senior notes earlier this month.
Management confirmed that the transaction is expected to be accretive to adjusted earnings per share (EPS) within the first 12 months post-closing.