Tetra Tech Acquires Enterprise Automation; Bags $110M USACE Contract

Tetra Tech, Inc. TTEK has acquired Irvine, California-based Enterprise Automation (EA), a provider of industrial control and automation system consulting and engineering services, for undisclosed financial terms.
"The addition of EA enables us to further expand our high-end digital water consulting practice by adding EA's talented team of digital automation and advanced data analytics consultants," commented Dan Batrack, Tetra Tech Chairman and CEO.
EA is joining Tetra Tech's Government Services Group.
Tetra Tech held cash and cash equivalents of $234.27 million as of June 27, 2021.
Separately, Tetra Tech stated that the company-led joint venture had secured a $110 million contract from the U.S. Army Corps of Engineers (USACE), Sacramento District, to assess and manage risks for dams and levee systems in the western U.S. for a period up to five years.
Price Action: TTEK shares closed higher by 1.42% at $178.16 on Tuesday.

Overview Rating:

Speculative

0100