Benzinga | Nov 3, 2021 05:33PM EDT

Stantec Acquires Netherlands-Based 'Driven by Values' For Undisclosed Sum

* Stantec Inc. (NYSE:STN) deepens its energy transition expertise in the Netherlands with the acquisition of Driven by Values. The financial terms were not disclosed.

* Driven by Values is a 28-person engineering and consulting firm and has offices in Eindhoven and Sittard.

* "In addition to expanding our presence in the Netherlands, Driven by Values enhances our ability to support commercial and government clients through policy development and the application of innovative tools designed for the full energy transition cycle," said Pieter van der Zwet, Stantec's Regional Leader for Continental Europe.

* Stantec held cash and deposits of C$209.2 million as of June 30, 2021.

* Price Action: STN shares closed lower by 0.76% at $54.62 on Wednesday.