Jacobs Engineering (NYSE: JEC) has a definitive agreement in place to acquire TechTeam Government Solutions, Inc.(TTGSI) an arm of TechTeam.
According to the firm, “TTGSI is a 500-person information technology (IT) solutions company that provides support to federal, state and local government agencies, including the United States Department of Homeland Security, U.S. Army and U.S. Army Corps of Engineers. The firm’s core competencies include systems integration, enterprise application integration, ERP implementation support, IT infrastructure support, network operations management, and call center operations.”
As part of the deal, Jacobs will acquire 100 percent of the stock in TTGSI for $59.0 million in cash, subject to certain adjustments set forth in the definitive agreement. The firm expects the deal to be done by late summer
“Jacobs is an industry leader with a strong business model, ” said TTGSI head David Kriegman. “Their world-class processes and tools will enable our team to compete more broadly and effectively and enhance our offerings for our clients.”