Jacobs chair and CEO Steve Demetriou said: “We are on the cusp of the next digital revolution as advances across 5G-driven compute power, robotics, autonomous technology, machine learning automation and geospatial technology converge to provide solutions to many of the world’s most complex challenges, including disruption to traditional business models. Our partnership with PA forms a unique offering in the market that combines strategic front-end consulting and deep domain knowledge across key sectors with next generation science and technology expertise.”
PA has developed world-leading innovations with Virgin Hyperloop to reinvent transport, with Ori Biotech to revolutionize cell and gene therapy manufacturing and with public utilities leveraging iPredict, the world’s first AI and Machine Learning system to predict failures in critical underground electricity distribution assets.
The new group is looking to organise joint teams working in public services, consumer and manufacturing, defence and security and health and life sciences.
CEO of PA Consulting Ken Toombs said, “We see Jacobs as the ideal partner for PA, leveraging their client relationship networks and global platform to position us for the next phase of growth. Their purpose to create a connected sustainable world and commitment to an inclusive future for all aligns with our own purpose – Bringing Ingenuity to Life – and our commitment to innovate towards a positive human future.”
The transaction will be implemented by way of a UK Scheme of Arrangement and is subject to the satisfaction of customary closing conditions, including the approval of the current shareholders of PA and the UK Court (pursuant to the Scheme), as well as the UK Financial Conduct Authority. Jacobs expects the transaction to close by the end of its fiscal 2021 second quarter.