Benzinga | Feb 3, 2021 01:20PM EST

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(r) 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.