U.S. federal government services firm expands AECOM’s presence in the U.S. intelligence market
LOS ANGELES - 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.”