Benzinga | Nov 2, 2021 05:46PM EDT

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

* Tetra Tech, Inc. (NASDAQ: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.