Jacobs CMS, C&I businesses to merge with Amentum

Amentum announced a definitive agreement to merge with Jacobs’ Critical Mission Solutions, or CMS, and Cyber and Intelligence, or C&I, businesses. The combined organization will be a publicly traded company with $13B in revenue and more than 53,000 employees in 83 countries. The transaction was approved by the Jacobs board of directors and is subject to customary closing conditions, including regulatory approvals. The transaction is expected to close in the second half of fiscal year 2024. Upon completion of the deal, John Heller, current CEO of Amentum, will serve as CEO of the combined company and sit on the combined company’s board, and Steve Arnette, EVP and president of CMS, will serve as COO. Jacobs’ current executive chair Steve Demetriou will become executive chair of the combined company. The board of directors of the combined company will be composed of an equal number of directors appointed by Jacobs and Amentum. Members of the combined company’s senior management team will be drawn from both companies and will be announced later as integration planning progresses.