Jacobs has completed its acquisition of the remaining equity interest in PA Consulting.
Since Jacobs’ strategic investment in March 2021, PA Consulting has contributed to Jacobs’ growth in advisory, digital, data and technology-enabled solutions, complementing Jacobs’ presence in infrastructure, advanced manufacturing, energy and life sciences. The combined business will serve clients across sectors, including government and private organizations, supporting work from strategy and design through execution across major capital programs, digital innovation and operational change.
Jacobs Chair and Chief Executive Officer Bob Pragada said:
“Full ownership of PA Consulting enables us to strengthen our position as a comprehensive partner delivering integrated advisory and technology-enabled solutions at global scale.”
“Clients increasingly seek fewer interfaces and greater accountability as they navigate large, complex initiatives. By bringing our strategy, digital innovation and major program delivery capabilities closer together, we can help clients move from insight to implementation with greater speed, capital efficiency and confidence. At the same time, expanding our high-value advisory and digital services enhances our growth trajectory and supports margin expansion – advancing long-term value creation for our shareholders.”
Paving the way for closing, the transaction was overwhelmingly approved by PA employees and shareholders, with more than 97% of voting shareholders – representing over 99% of share value, voting in favor of the transaction.
PA Consulting CEO Christian Norris added:
“In fully uniting with Jacobs, we’re extending PA’s distinctive innovation and transformation capabilities and further strengthening our ability to help clients navigate complexity and unlock new possibilities. With this next chapter now underway, we’ll build on our collective achievements and deliver even more meaningful impact as a single global team.”
Jacobs completed the acquisition of all PA shares not previously owned for upfront consideration of approximately £1.2bn. Jacobs completed the deal according to the terms announced on 5 January 2026, satisfying all required closing conditions. The upfront consideration, net of certain transaction expenses payable by the PA shareholders and after making payments with respect to certain PA shares which Jacobs acquired for 100% cash, was paid 80% in cash and 20% in Jacobs’ shares. The transaction was funded through a combination of cash-on-hand and existing and incremental debt facilities
The transaction includes deferred consideration of £75m, which is payable in Jacobs’ shares as valued on the two-year anniversary following closing, cash, or a combination thereof, at Jacobs’ election.
(Picture: Jacobs/PA Consulting)
