Tetra Tech Inc. (TTEK - Analyst Report) recently entered into an agreement to acquire Department of State consulting firm PRO-telligent, LLC, a provider of varity of technical support services principally to the U.S. Department of State (DOS) at locations in different parts of the world. With employee of more than 600, PRO-telligent generates about $100 million revenue annually.
The acquisition will help the company to achieve its long-term goal of providing enhanced services to its customers. As an eleven year old company, PRO-telligent is one of the fastest growing U.S. federal government contractors.
Following the close of the transaction, PRO-telligent will be incorporated in Tetra Tech’s Technical Support Services business segment. The terms of acquisition were not disclosed by the companies.
Tetra Tech Inc. is a leading provider of consulting, engineering, program management, construction and technical services focusing on resource management and infrastructure. It serves clients by providing cost-effective and innovative solutions to fundamental needs for water, environmental and alternative energy services.
It typically begins at the earliest stage of a project by applying science to problems and developing solutions tailored to clients' needs and resources. Its solutions may span the entire life cycle of the project and include applied science, research and technology, engineering, design, construction management, construction, operations and maintenance, and information technology. Major competitors of Tetra Tech are Arcadis NV (ARCAY.PK), Shaw Group Inc. and URS Corporation .
We currently maintain our Neutral rating on Tetra Tech Inc. with a Zacks #2 Rank (short-term Buy recommendation) over the next one-to-three months.