Tetra Tech Acquires Coanda To Strengthen Its Analytics Business

Tetra Tech, Inc. (NASDAQ: TTEK) acquired British Columbia’s Coanda Research & Development Corporation to complement its advanced analytics business.
Coanda’s research scientists and engineers provide solutions for complex engineering science problems across multiple industries. All of which is further supported by its in-house research facilities.
Coanda will be a part of Tetra Tech’s Commercial/International Services Group.
The financial terms of the acquisition remain undisclosed.
“The addition of Coanda aligns with our Leading with Science® approach and advances our strategy to expand our cutting-edge scientific solutions to support the commercial and industrial sectors,” said Tetra Tech CEO Dan Batrack.
The company had a cash and equivalents balance of $163.44 million as of December 27, 2020.
Price action: TTEK shares are down 0.05% at $127.76 on the last check Wednesday.