Aecom completes $6bn acquisition of URS20 October 2014 | By Joe Quirke
American engineer Aecom has completed the $6bn acquisition of URS that it announced in July.
The acquisition makes Aecom the biggest consultant in the world. Together with URS it had a turnover of $19.2bn in the 12 months to June. The second place firm, Jacobs Engineering, has a revenue just below $12bn.
Michael Burke, the chief executive of Aecom, said: “Beyond the compelling benefits that this transaction creates for our combined clients, stockholders and employees, the combination of Aecom and URS dramatically accelerates our strategy of creating an integrated delivery platform with superior capabilities to design, build, finance and operate infrastructure assets around the world.”
He added that he was confident the merger would lead to annual efficiency savings of $250m.
URS will bring expertise in markets such as oil and gas, power and government services to the combined company.
The deal means Aecom will now have 95,000 employees in 150 countries. Aecom and URS have worked together on projects such as the World Trade Centre in New York, and London’s Olympic Park and Crossrail schemes.