Arcadis completes IBI acquisition
Dutch consultancy group Arcadis has completed its previously announced acquisition of Toronto-based IBI Group.
IBI is a technology-driven design firm with global architecture, engineering, planning, and technology expertise spanning more than 60 offices and over 3,500 employees around the world. Arcadis and IBI agreed the all-cash offer of C$19.50 (£12.74) per share back in July. The proposal valued IBI at C$873 million.
Commenting on the completion of the acquisition, Arcadis global CEO Peter Oosterveer, said: “Today, we have reached a significant milestone for Arcadis, IBI and our 33,000 employees across the world, as we create a global leader for planning, designing and building the resilient cities of tomorrow.
“The coming together of our two companies is fundamentally about the growth of our businesses and opportunities for our clients and our people, and crucially contributes to meeting the targets we set out in Arcadis’ 2020-2023 ‘Maximizing Impact’ business strategy.
“Together, we have a unique opportunity to grow our talent and expand to offer new and complementary client experiences, both globally and in the growing Canadian and US markets.”