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Tyco to sell infrastructure services business to AECOM

Tyco International Ltd. has announced that it has entered into a definitive agreement to sell substantially all of its Infrastructure Services business to AECOM Technology Corporation for approximately $510 million. Infrastructure Services, which operates under the name Earth Tech, Inc., provides consulting engineering, construction management and operating services for the water, wastewater, environmental, transportation and facilities markets. The business had revenue of $1.3 billion in 2007 and employs 7,000 people around the world.

AECOM, based in Los Angeles, CA is a $4.2 billion global engineering services company providing professional technical and management support services to customers in the transportation, facilities, environmental and energy markets.

"The sale of Infrastructure Services is an important step in the ongoing refinement of our portfolio and is consistent with our strategy to divest certain non-core businesses," said Tyco Chairman and Chief Executive Officer Ed Breen.

During 2007, Tyco agreed to sell a Brazilian subsidiary of Infrastructure Services for approximately $295 million, a transaction expected to close in the current fiscal quarter.

Completion of the AECOM transaction is subject to customary closing conditions, regulatory approvals and expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

 

 

For more information, please send your e-mails to swm@infothe.com.

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