WSP Global to buy Power Engineers for $1.78 billion
(Reuters) -Engineering and professional services firm WSP Global said on Monday it would acquire U.S.-based Power Engineers for $1.78 billion.
The deal, expected to close in the early fourth quarter, would be financed with new term loans and immediately boost WSP's adjusted net earnings per share before synergies.
The Canada-based company expects cost-savings of a minimum of about $25 million to be achieved by the end of 2026.
WSP provides advisory, engineering and design services to clients in sectors ranging from transportation and environment to mining.
The transaction is likely to well place WSP as a consulting firm amid growing investments into energy transition across the world.
The U.S. government has been working to overhaul the country's electric transmission system, which is under pressure from extreme weather conditions as well as a growing number of power-hungry data centers.
(Reporting by Sourasis Bose in Bengaluru; Editing by Shilpi Majumdar)
