- Jacobs Engineering Group Inc (NYSE:J) has acquired mobility analytics provider StreetLight Data, Inc. for undisclosed financial terms.
- This acquisition accelerates Jacobs' strategy to grow its end-to-end digital solutions portfolio and focus on ESG while adding high growth, highly recurring revenue software businesses.
- StreetLight applies proprietary processing technology to location data from millions of mobile devices, connected vehicles, IoT sensors, and geospatial databases to measure multimodal travel patterns – and makes them available via its online SaaS (Software as a Service) solution StreetLight InSight.
- "There is a global need for solutions that help us better understand the movement of people, goods, and services while addressing broader societal challenges, and our acquisition of StreetLight solidifies our leadership in this fast-growing area," commented Jacobs Chair and CEO Steve Demetriou.
- Jacobs Engineering held cash and equivalents of $1.01 billion as of October 1, 2021.
- Price Action: J shares are trading higher by 1.07% at $129.04 on the last check Monday.
