Nothing but negotiation

The Gap Partnership

Engineering acquisition following sales negotiations

An acquisition for Jacobs Engineering has been completed.

22 December 2010

Sales negotiations between two firms have led to a major acquisition being completed.

US technical professional services firm Jacobs Engineering has agreed to buy Norwegian oilfield engineering company Aker Solutions' process and construction unit.

According to a joint statement from the businesses, the deal was worth $675 million (£435 million) in cash and is expected to be completed in the first quarter of 2011.

Following the acquisition, Jacobs will be able to boost its operations in Latin America and China, while also broadening its access to the mining and metals sector.

Aker, the Oslo-based firm, has announced earlier this month it would let two of its construction businesses go in order to increase its focus on oil services.

Sales negotiations may recently have proved useful for two executive search consultancies that have merged.

Warren Partners, from Northwich, stated it is set to benefit from joining together with the London-based boutique consultancy, Atticus Partnership. 

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