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Jacobs Inks Deal to Buy Verizon’s Federal Network Systems Subsidiary; Robert Norfleet Comments

acquisitionJacobs Engineering Group (NYSE: JEC) has moved to grow its presence in the intelligence community by agreeing to acquire Verizon‘s (NYSE: VZ) Federal Network Systems subsidiary for an undisclosed sum.

Jacobs expects to close the deal for the 750-employee subsidiary in the summer of calendar year 2014, Jacobs said Tuesday.

Robert Norfleet, a Jacobs group vice president, said the company sought to complement the facility design, commissioning and technical services it already offers to government clients.

Federal Network Systems works with intelligence, defense and civilian agencies on projects in areas such as systems integration, communications, information technology and data security.

The subsidiary’s employees work to design, integrate, secure, operate and maintain communications networks.

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