AECOM announced that it has completed its acquisition of Davis Langdon, a global cost and project management consultancy firm, in Australia and New Zealand, Europe, the Middle East and the United States.<\/p>\n
Davis Langdon provides cost and project management services, and specialist consultancy services, to clients around the world. Davis Langdon\u2019s 2,800 employees serve public- and private-sector clients in a variety of markets. Its counterpart in Asia, Davis Langdon & Seah, remains independent, but continues to work with AECOM\u2019s Davis Langdon operations under an existing collaboration agreement.<\/p>\n
\u201cDavis Langdon\u2019s strong cost and project management capabilities enhance our growing construction management services portfolio,\u201d said John M. Dionisio, AECOM president and chief executive officer. \u201cCombined with our recent acquisition of Tishman Construction, we have significantly bolstered AECOM\u2019s ability to meet clients\u2019 growing needs for turnkey, integrated services \u2013 and we have done so by adding two recognized, global industry leaders to the AECOM team.\u201d<\/p>\n
\u201cThe addition of Davis Langdon is another example of our continued commitment to execute on our global growth and diversification strategy. Davis Langdon\u2019s presence in growth markets positions us well to offer our clients a comprehensive, worldwide program management solution,\u201d Dionisio said.<\/p>\n
The acquisition of Davis Langdon\u2019s South Africa operations is expected to be complete by the end of October 2010. The transactions, including Davis Langdon South Africa, are valued in the aggregate at approximately US$324 million. <\/p>\n
AECOM expects the transactions to be accretive to cash earnings per share (EPS) in fiscal year 2011. On a GAAP basis, the transactions are expected to be neutral to EPS in fiscal year 2011.<\/p>\n
Davis Langdon has worked on many high-profile projects around the world, including the Tate Modern and the Eden Project in the United Kingdom; Estadio do Dragao in Portugal; New Doha International Airport; Grand Egyptian Museum in Cairo, Egypt; The Clem Jones Tunnel (CLEM7) in Brisbane, Australia; the Transbay Terminal in San Francisco, U.S.A.; the Gautrain Rapid Rail Link in Johannesburg, and the Green Point Stadium \u2013 newly built for the 2010 FIFA World Cup \u2013 in Cape Town, South Africa.<\/p>\n
\u201cWe are excited to be joining with AECOM,\u201d said Rob Smith, chairman of Davis Langdon\u2019s international board of directors and senior partner of its Europe and Middle East region. \u201cOur clients are looking for integrated solutions and access to global knowledge. AECOM\u2019s global services platform enables Davis Langdon to deliver our front-end cost and project management, and consultancy services as part of a complete end-to-end offer. This will allow us to better serve our global customers while presenting our employees with new long-term growth opportunities. We look forward to further growing our presence in the markets we share with AECOM and leveraging their global platform to enter new growth areas.\u201d<\/p>\n
Under the terms of the agreements, Davis Langdon will receive approximately 82 percent of the consideration in cash and 18 percent in AECOM common stock. <\/p>\n
About AECOM
\n<\/b>AECOM (NYSE: ACM) is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 51,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation, and technical excellence in delivering solutions that enhance and sustain the world’s built, natural, and social environments. A Fortune 500 <\/i>company, AECOM serves clients in more than 100 countries and had revenue of $6.3 billion during the 12-mo…<\/p>\n","protected":false},"featured_media":0,"template":"","yst_prominent_words":[],"class_list":["post-6711","press-release","type-press-release","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/press-release\/6711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/press-release"}],"about":[{"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/types\/press-release"}],"version-history":[{"count":0,"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/press-release\/6711\/revisions"}],"wp:attachment":[{"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/media?parent=6711"}],"wp:term":[{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/yst_prominent_words?post=6711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}