Jacobs to acquire remaining PA Consulting stake for £1.216 billion ($1.6 billion) upfront
On January 2, 2026, Jacobs agreed to buy the remaining PA Consulting shares held by outside shareholders, mostly current and former employees, for approximately £1.216 billion ($1.6 billion) upfront, paid 80% in cash and 20% in Jacobs common stock. Jacobs expects the deal to be accretive to adjusted EPS in the first 12 months after closing and to close by the end of its fiscal 2026 second quarter, but closing depends on shareholder, UK court and regulatory approvals, and the cash portion will be funded from cash on hand and debt facilities.
Key points
- Upfront consideration of approximately £1.216 billion ($1.6 billion), with an implied enterprise value for PA Consulting of approximately £3.05 billion
- Additional £75 million in deferred consideration, payable in Jacobs shares or cash at Jacobs' election on the second anniversary of closing
- Expected to close by the end of fiscal 2026 second quarter; the agreement terminates if closing has not occurred by 5 pm UK time on May 29, 2026
- Adjusted EBITDA margin was 13.9% for fiscal 2025 as reported, versus 14.5% had Jacobs fully owned PA Consulting for the full year
The filing
Written by AI on Nov 8, 2026, 1:11 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 05, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.