Jacobs Solutions announced on January 5, 2026 that it will acquire the remaining 35 % of PA Consulting for an upfront consideration of approximately £1.216 billion ($1.6 billion). The deal values PA Consulting at roughly £3.05 billion in enterprise terms and includes 80 % of the upfront payment in cash, 20 % in Jacobs shares, and an additional £75 million of deferred consideration tied to performance milestones.
The transaction will give Jacobs full ownership of PA Consulting, which it currently holds 65 % of. The remaining shares are held by employees and former employees. Jacobs plans to close the deal by the end of its fiscal 2026 second quarter, financing the cash portion with on‑hand cash and incremental debt while issuing equity to fund the share‑based portion. Management projects the acquisition to be accretive to adjusted earnings per share within 12 months of closing.
Strategically, the purchase deepens Jacobs’ consulting‑led growth agenda. PA Consulting’s 4,000‑to‑5,500‑person global team delivers high‑margin advisory and transformation services that complement Jacobs’ infrastructure and advanced facilities businesses. The integration is expected to unlock £12–15 million of cost synergies within 24 months and expand cross‑sell opportunities across Jacobs’ existing infrastructure, life‑sciences, and advanced‑manufacturing segments, while extending the company’s geographic footprint into new markets.
Financially, the deal builds on Jacobs’ strong FY 2025 performance. Jacobs reported $12.0 billion in revenue and $6.12 in adjusted EPS in FY 2025, with PA Consulting contributing $1.27 billion in revenue and a 7.46 % YoY increase. If Jacobs had fully owned PA Consulting in FY 2025, its adjusted core profit margin would have risen to 14.5 % versus the actual 13.9 %. The acquisition therefore adds a high‑margin, high‑growth business that is expected to lift Jacobs’ overall margin profile and accelerate revenue growth in the coming years.
Bob Pragada, Jacobs’ Chair and CEO, said the full ownership “will enable Jacobs to transform bold ideas into practical, optimized outcomes for our clients.” CFO Venk Nathamuni noted that the company “has exceeded its margin expansion targets in FY 2025 and expects further improvement in FY 2026,” underscoring confidence in the added value from PA Consulting’s services.
PA Consulting, founded in 1943, is a global innovation and transformation consultancy with offices across the UK, US, Ireland, Nordics, and Netherlands. Jacobs’ FY 2025 revenue breakdown shows Infrastructure & Advanced Facilities as the largest segment (89.48 %) and PA Consulting as the second largest (10.52 %). The acquisition positions Jacobs to leverage PA Consulting’s expertise in AI and digital transformation, aligning with the company’s broader investment in high‑return verticals.
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