Tetra Tech, Inc. (NASDAQ: TTEK) announced today its offer to acquire all of the outstanding shares of WYG plc (LSE: WYG) through a United Kingdom (UK) court-approved scheme of arrangement has become effective and the transaction has closed. Trading in WYG shares on the London Stock Exchange has been suspended and the outstanding shares of WYG are now owned by Tetra Tech.
WYG employs 1,600 staff primarily in the UK and Europe, delivering consulting and engineering solutions for complex projects across key service areas including planning, water and environment, transport, infrastructure, the built environment, architecture, urban design, surveying, asset management, program management, and international development.
WYG expands Tetra Tech's geographic presence and positions Tetra Tech as a leading global consulting, engineering and program management firm focused on water, environment and infrastructure. In addition, WYG enhances Tetra Tech's international development business both for the European Union and the United Kingdom's Department for International Development. Collectively, its expanded presence in the UK provides a strong platform for growth in the UK and Europe.
"The addition of WYG advances our strategy to be the premier global high-end consulting, engineering, and program management firm," said Dan Batrack, Tetra Tech Chairman and CEO. "WYG's expertise in infrastructure and program management, as well as water and environmental services, enables us to deliver innovative solutions to support the UK's infrastructure needs. Together, we will provide an expanded scope of services to our customers and offer our combined staff even greater professional opportunities."
About Tetra Tech
Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, infrastructure, resource management, energy, and international development. We are Leading with Science to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com, follow us on Twitter (@TetraTech), or like us on Facebook.
WYG is an award-winning professional services firm operating from more than 30 locations across the UK, Europe, Africa and Asia. WYG helps its clients create value, protect value, and manage risk. We are the partner of choice for organizations operating in complex or challenging environments.
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management's best judgment as to what may occur in the future. However, Tetra Tech's actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company's Form 10-K and 10-Q filings with the Securities and Exchange Commission.
Jim Wu, Investor Relations
Charlie MacPherson, Media Public Relations