Jacobs to Spin-off and Merge its Critical Mission Solutions and Cyber & Intelligence Government Services Businesses with Amentum, Creating an Independent, Publicly Traded Company
Portfolio Pulse from Benzinga Newsdesk
Jacobs (NYSE:J) has announced a definitive agreement to spin-off and merge its Critical Mission Solutions and Cyber & Intelligence government services businesses with Amentum, forming a new publicly-traded company in the government services sector. This follows Jacobs' May announcement of its intent to separate its CMS business. The new entity will have approximately $13 billion in annual revenue. Jacobs will retain its next-generation data solutions and digital technologies business, which is part of its DVS segment.
November 21, 2023 | 7:39 am
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Jacobs is spinning off and merging its CMS and Cyber & Intelligence units with Amentum, which will result in a new publicly-traded company. Jacobs will focus on its remaining innovative data solutions and digital technologies business.
The spin-off and merger are likely to be viewed positively by investors as it allows Jacobs to concentrate on its core innovative technologies while also participating in the creation of a significant new player in the government services sector. This strategic move can potentially unlock value for shareholders and provide clearer investment narratives for both entities.
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