The Associated Press June 4, 2010, 9:07AM ET

Jacobs to buy TechTeam unit for $59 million

Construction and engineering firm Jacobs Engineering Group Inc. said Thursday it agreed to acquire TechTeam Government Solutions Inc., a unit of TechTeam Global Inc., for $59 million.

The unit offers services to government agencies, including the U.S. Department of Home Security and the U.S. Army.

The acquisition, which requires approval by the stockholders of TechTeam Global, is expected to close by late summer.

Jacobs said the acquisition will broaden its client offerings.

TechTeam Global said it decided to sell the unit to focus on the commercial market.


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