Double Vision: Jacobs Ready to Spin Off Government Services
Attachment: Jacobs 3Q23
November 22, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Jacobs Solutions Incorporated (NYSE:J) (Dallas, Texas) plans to strengthen its role in contracted government services by spinning off its related businesses and merging them with Amentum Services Incorporated (Chantilly, Virginia), a rival contractor in the sector. Announcing its results for fiscal-year 2023, in which revenues grew 11% to $4.29 billion, Jacobs said the deal will give it a broader role in industries critical to the global economy.
Industrial Info is tracking more than $150 billion worth of projects worldwide featuring Jacobs' services, including more than $101 billion worth in the U.S. and Canada. The development of semiconductors and related devices accounts for nearly 40% of the global total. The new, publicly traded company formed from the merger will include all of Amentum and Jacobs' Critical Mission Solutions (CMS) and Cyber & Intelligence government-service businesses. In 2021, Bloomberg ranked Amentum as the second-largest government services contractor (when not including equipment producers) in the U.S. government-contracting market.
Other companies featured: General Dynamics Corporation (NYSE:GD), Pfizer Incorporated (NYSE:PFE) and Samsung Group
