Tetra Tech Expands High-end Climate Data Analytics Solutions with Acquisition of Axiom Data Science

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has acquired Axiom Data Science, a leader in managing and analyzing oceanic data related to climate change, based in Anchorage, Alaska. This acquisition enhances Tetra Tech's advanced analytics capabilities in ocean and ecological data, supporting clients including NOAA and NASA. The transaction terms were not disclosed. Tetra Tech aims to provide sustainable solutions and improve decision-making for climate-related projects worldwide, leveraging Axiom's expertise for better data visualization and integration.

Positive

• Acquisition of Axiom Data Science enhances Tetra Tech's advanced analytics capabilities.
• Strategic partnership with Axiom supports high-end climate science modeling.
• Expands service offerings for clients like NOAA and NASA.
• Potential for revenue growth through enhanced data management solutions.

Negative

• None.

PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today that it has acquired Axiom Data Science, an industry leader in the management and analysis of oceanic and ecological data associated with climate change. Headquartered in Anchorage, Alaska, Axiom conducts climate science modeling to help clients manage, integrate, and visualize large-scale complex data sets that are essential to addressing climate change.

“Tetra Tech leverages digital technology using our Leading with Science^® approach to provide clients with sustainable and resilient solutions and support decision-making on projects around the world,” said Dan Batrack, Tetra Tech Chairman and CEO. “The addition of Axiom Data Science expands our high-end advanced analytics capabilities in oceans and ecosystems to advance climate science for clients, including the National Oceanic and Atmospheric Administration and the National Aeronautics and Space Administration.”

Rob Bochenek, Axiom Founder and CEO, said, “We are honored to join Tetra Tech and work with their exceptional team of scientists and engineers to provide best-in-class data analytics solutions to address climate change impacts. By joining Tetra Tech, we will further enhance our ability to provide highly specialized solutions to our clients, while offering new opportunities for our employees to work on water and environment programs worldwide.”

The terms of the acquisition were not disclosed. Axiom Data Science is joining Tetra Tech’s Government Services Group.

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 21,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science^® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn, Twitter, and Facebook.

About Axiom Data Science

Based in Anchorage, Alaska, Axiom Data Science is an informatics and software development firm focused on developing scalable solutions for data management, integration, and visualization. Axiom supports federal, private, academic, and non-governmental organizations in the ecological, geological, and ocean sciences organizations to improve the long-term management and impact of their scientific data resources.

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 Form 10-Q filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220307006006/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What is the purpose of Tetra Tech's acquisition of Axiom Data Science?

The acquisition aims to enhance Tetra Tech's advanced analytics capabilities in addressing climate change through better management and analysis of oceanic and ecological data.

How will Tetra Tech benefit from acquiring Axiom Data Science?

Tetra Tech will expand its service offerings, improve data visualization, and support decision-making for climate-related projects, benefiting clients like NOAA and NASA.

When was the acquisition of Axiom Data Science announced?

The acquisition was announced on March 7, 2022.

What is Tetra Tech's stock symbol?

Tetra Tech trades under the stock symbol TTEK on NASDAQ.

Where is Axiom Data Science based?

Axiom Data Science is headquartered in Anchorage, Alaska.