Tetra Tech Acquires Coanda Research & Development Corporation to Expand its High-End Technology Solutions Services

Rhea-AI Summary

Tetra Tech (NASDAQ: TTEK) has expanded its advanced analytics business through the acquisition of Coanda Research & Development Corporation in Burnaby, British Columbia. Coanda enhances Tetra Tech's capabilities in computational fluid dynamics, data analytics, and process engineering. This acquisition aims to strengthen Tetra Tech's position in delivering customized solutions to commercial clients, aligning with its strategy of Leading with Science. The financial terms of the acquisition were not disclosed.

Positive

• Acquisition of Coanda improves Tetra Tech's advanced analytics capabilities.
• Enhances service offerings in computational fluid dynamics and data analytics.
• Strengthens market position in commercial and industrial sectors.

Negative

• None.

Tetra Tech, Inc. (NASDAQ: TTEK), a high-end consulting and engineering firm, announced today that it has further expanded its advanced analytics business with the addition of Coanda Research & Development Corporation, based in Burnaby, British Columbia. Coanda brings a suite of industry-leading capabilities to solve complex engineering science problems for commercial customers, across a broad range of industries. Coanda’s research scientists and engineers provide world-class expertise in computational fluid dynamics, physical and predictive modeling, data analytics, process engineering, analytical chemistry, and instrument development.

Coanda’s state-of-the-art in-house research facilities—coupled with advanced scale-up expertise—enable their technical teams to combine analytical simulation with sophisticated lab-scale experiments to facilitate future operational deployment.

“Tetra Tech’s expertise in integrating high-end technologies and advanced analytics in customized solutions for our clients differentiates us in the marketplace today,” said Dan Batrack, Tetra Tech Chairman and CEO. “The addition of Coanda aligns with our Leading with Science^® approach and advances our strategy to expand our cutting-edge scientific solutions to support the commercial and industrial sectors.”

Darwin Kiel, Coanda President, said, “Our team is excited to join Tetra Tech and continue solving our clients’ most complex problems. By joining Tetra Tech, we can apply our industry-leading approaches to a wider range of industrial challenges, build multi-disciplinary teams with broadened high-end resources, and provide exciting new opportunities for our employees.”

The terms of the acquisition were not disclosed. Coanda is joining Tetra Tech’s Commercial/International Services Group.

About Coanda Research & Development Corporation

Coanda is an established industrial research and engineering consulting firm based in Burnaby, British Columbia. Coanda provides applied research and development solutions to commercial and industrial clients’ most challenging issues. For more information about Coanda, please visit coanda.ca, follow them on LinkedIn, Twitter (@CoandaResearch) or on Facebook.

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, and renewable energy. We are Leading with Science^® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com, follow us on Twitter (@TetraTech), or like us on Facebook.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and 10-Q filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210203005123/en/

FAQ

What is the significance of Tetra Tech acquiring Coanda Research & Development Corporation?

The acquisition enhances Tetra Tech's advanced analytics capabilities, particularly in computational fluid dynamics and data analytics, which will help in solving complex engineering challenges for commercial clients.

How will the acquisition of Coanda impact Tetra Tech's business?

The addition of Coanda is expected to expand Tetra Tech's service offerings and strengthen its competitive position in the commercial and industrial sectors.

When was the acquisition of Coanda by Tetra Tech announced?

The acquisition was announced on February 3, 2021.

What are the expected benefits of Tetra Tech's acquisition of Coanda?

Tetra Tech anticipates synergies in advanced analytics and engineering solutions, allowing them to tackle a broader range of industrial challenges.

Is the financial term for the acquisition of Coanda disclosed?

No, the financial terms of the acquisition have not been disclosed.