Jacobs Engineering Group Inc. on Friday said it plans to buy the government information technology unit of TechTeam Global for $59 million in cash.
The Pasadena construction services firm said that the unit, TechTeam Government Solutions, provides support to federal, state and local government agencies, including the U.S. Army, and has 500 employees.
TechTeam Global, based in Southfield, Mich., said the unit contributed $76 million, or 36 percent of its total revenue in fiscal 2009.
“TTGSI brings new customers and capabilities to our growing government IT services business, and enhances our IT capabilities and services for our clients around the globe,” said Jacobs Chief Executive Officer Craig Martin in a statement.
Jacobs’ shares were down $2.34, or 5 percent, to $41.36 in midday trading on the New York Stock Exchange.