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Jacobs Advances Strategic Transformation with Completion of Previously Announced Spin-off and Merger

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Jacobs retains its innovative, next-generation data solutions and digital technologies business

Newly streamlined portfolio enables company to focus on distinct strategies in advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water

DALLAS, Sept. 27, 2024 /PRNewswire/ — Jacobs (NYSE: J) announced today the completion of the spin-off of its Critical Mission Solutions and Cyber & Intelligence government services businesses (the “Separated Business”) and merger with Amentum Parent Holdings LLC, forming an independent, publicly traded company called Amentum Holdings, Inc. (NYSE: AMTM) (“Amentum”). The combination creates a robust, leading government advanced engineering and technology solutions business.

The transaction marks an important milestone in Jacobs’ journey to become a more focused and higher value company. Jacobs will continue to be a premier provider of science-based consulting and advisory solutions focused on addressing some of the world’s most complex critical infrastructure and sustainability challenges with leading positions in the attractive advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water sectors. Jacobs also retains its innovative, next-generation data solutions and digital technologies business, which is core to delivering digitally enabled critical infrastructure solutions to its clients.

“A simplified Jacobs accelerates our evolution to a more resilient, focused, higher-growth critical infrastructure player, positioning us to unlock high-margin work while solidifying our leadership in fast-growing market sectors aligned to long-term megatrends like critical infrastructure, life sciences and semiconductors,” said Jacobs Chair & CEO Bob Pragada. “With our rich history of solving some of the biggest challenges for our clients and society, we’re building on our experience and challenging ourselves to not just meet expectations but to exceed them – redefining what success looks like as a leader in these high-growth sectors.”

Jacobs’ CFO Venk Nathamuni added, “We are steadfast in our commitment to providing high-value solutions with improved margins, supported by our emphasis on operational excellence and execution to continue to drive value for our stakeholders. We look forward to sharing our strategic plan for the future of Jacobs at our upcoming Investor Day on February 18, 2025, in Miami.”

As further detailed in the information statement included as part of the registration statement on Form 10 filed by Amentum with the U.S. Securities and Exchange Commission (the “SEC”), immediately after completion of the spin-off and merger transactions, Jacobs’ shareholders held approximately 51% of the issued and outstanding shares of common stock of Amentum, and Jacobs held approximately 7.5%. An additional amount of approximately 4.5% of the issued and outstanding common stock of Amentum (the “contingent consideration”) has been placed in escrow, to be released and delivered in the future to Jacobs and its shareholders or the former sole equity holder of Amentum, depending on the achievement of certain fiscal year 2024 operating profit targets by the Separated Business. To the extent Jacobs and its shareholders become entitled to any portion of the contingent consideration, the first 0.5% of the outstanding shares of Amentum will be released from escrow and delivered to Jacobs. Any further contingent consideration to which Jacobs and its shareholders may become entitled will be distributed on a pro rata basis to Jacobs’ shareholders as of a record date to be determined in the future. Any shares of contingent consideration to which Jacobs and its shareholders do not become entitled to receive will be delivered to the former equityholder of Amentum.

Jacobs expects to file a Form 8-K with the SEC containing unaudited preliminary pro forma consolidated financial information to reflect the Separated Businesses as part of Jacobs’ discontinued operations no later than October 3, 2024. In addition, Jacobs intends to make available on a voluntary basis, substantially concurrently with the filing of the Form 8-K, certain supplemental financial information regarding independent Jacobs on its website.

At Jacobs, we’re challenging today to reinvent tomorrow – delivering outcomes and solutions for the world’s most complex challenges. With a team of approximately 45,000, we provide end-to-end services in advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water. From advisory and consulting, feasibility, planning, design, program and lifecycle management, we’re creating a more connected and sustainable world. See how at jacobs.com and connect with us on LinkedIn, Instagram, X and Facebook.

Forward-Looking Statement Disclaimer
Certain statements contained in this press release constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as “expects,” “anticipates,” “believes,” “seeks,” “estimates,” “plans,” “intends,” “future,” “will,” “would,” “could,” “can,” “may,” “target,” “goal” and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make concerning our expectations as to our future growth, prospects, financial outlook and business strategy, including our expectations for the benefits to be achieved through the spin-off and merger of the Separated Business, and any assumptions underlying any of the foregoing. Although such statements are based on management’s current estimates and expectations, and/or currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause actual results to differ materially from what is contained, projected or implied by our forward-looking statements. Such factors include the uncertainties as to the impact of the recently completed separation transaction (hereinafter referred to as the “Separation Transaction”) pursuant to which we spun off and merged  the Separated Business with Amentum  (together, “new Amentum “) on Jacobs’ and new Amentum’s businesses, including a possible impact on Jacobs’ credit profile, and a possible decrease in the trading price of Jacobs’ and/or the new Amentum’s shares, uncertainties as to  the final allocation of the shares of new Amentum held in escrow based on the  Separated Business achieving specific fiscal 2024 profit targets and the value to be derived from the disposition of Jacobs’ stake in new Amentum, unexpected costs, charges or expenses related to the provision of transition services in connection with the  Separation Transaction, business and management strategies and the growth expectations of new Amentum. In addition, such factors may include other factors related to our business, such as our ability to fully execute on our corporate strategy, including our ability to invest in the tools needed to implement our strategy, competition from existing and future competitors in our target markets, our ability to achieve the cost-savings and synergies contemplated by our recent acquisitions within the expected time frames or to achieve them fully and to successfully integrate acquired businesses, the impact of acquisitions, strategic alliances, divestitures, and other strategic events resulting from evolving business strategies, including on the Company’s ability to operate as a separate public-company without the benefit of the resources and capabilities divested as part of the Separated Business, or to maintain its culture and retain key personnel, customers or suppliers, the impact of any pandemic, and any resulting economic downturn on our results, prospects and opportunities, measures or restrictions imposed by governments and health officials in response to the pandemic, the timing of the award of projects and funding and potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act, as well as other legislation related to governmental spending, any changes in U.S. or foreign tax laws, statutes, rules, regulations or ordinances that may adversely impact our future financial positions or results of operations, financial market risks that may affect the Company, including by affecting the Company’s access to capital, the cost of such capital and/or the Company’s funding obligations under defined benefit pension and postretirement plans, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates, and foreign currency exchange rates, changes in capital markets, instability in the banking industry, or the impact of a possible recession or economic downturn on our results, prospects and opportunities, and geopolitical events and conflicts among others. The impact of such matters includes, but is not limited to, the possible reduction in demand for certain of our product solutions and services and the delay or abandonment of ongoing or anticipated projects due to the financial condition of our clients and suppliers or to governmental budget constraints or changes to governmental budgetary priorities; the inability of our clients to meet their payment obligations in a timely manner or at all; potential issues and risks related to a significant portion of our employees working remotely; illness, travel restrictions and other workforce disruptions that have and could continue to negatively affect our supply chain and our ability to timely and satisfactorily complete our clients’ projects; and the inability of governments in certain of the countries in which we operate to effectively mitigate the financial or other impacts of any future pandemics or infectious disease outbreaks on their economies and workforces and our operations therein. The foregoing factors and potential future developments are inherently uncertain, unpredictable and, in many cases, beyond our control. For a description of these and additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 29, 2023, and in particular the discussions contained therein under Item 1 – Business; Item 1A – Risk Factors; Item 3 – Legal Proceedings; and Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations, and Part II, Item 1A – Risk Factors, in our most recently filed Quarterly Report on Form 10-Q, as well as the Company’s other filings with the U.S. Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

For press/media inquiries:
media@jacobs.com  

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Observo AI, the AI-Powered Telemetry Data Pipeline, Joins the Azure Marketplace

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September 27, 2024

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Observo AI, the AI-powered security and observability telemetry pipeline is now available on Azure Marketplace.

FREMONT, Calif., Sept. 27, 2024 /PRNewswire-PRWeb/ — Observo AI, a pioneer in creating security and observability data pipelines powered by Artificial Intelligence, today announced a partnership with Microsoft and the availability of Observo on Azure Marketplace. This will make it easier for Azure customers to quickly adopt Observo to help control costs, manage data sprawl, boost productivity, and identify and resolve critical incidents faster.

There is huge growth in data sent to analytics platforms by security teams. Costs for MS Sentinel are increasing at an untenable pace. Azure customers now have access to Observo AI through Azure Marketplace to optimize this data, route it to Sentinel, and save as much as 50% on SIEM costs.

Customers can now deploy Observo AI at speed while benefiting from Azure’s trusted and secure infrastructure, as well as its global commercial footprint. Availability on the Azure Marketplace will enable seamless purchasing and invoicing, with customers able to use their existing Microsoft Azure Consumption Commitment (MACC) to purchase Observo AI.

“Many of our customers who have moved to Azure are experiencing a huge increase in telemetry data sent to analytics platforms by Security and DevOps teams. Expenditures on tools like Microsoft Sentinel are increasing at an untenable pace,” said Ricky Arora, Co-Founder and COO of Observo AI. “Azure Cloud customers now have access to Observo AI through the Azure Marketplace to optimize this data, route it to Sentinel or any other analytics tool, and save as much as 50% on security costs.”

“Observo AI, available on the Azure Marketplace, offers a solution for Microsoft Azure and Sentinel customers struggling with the relentless growth of security data,” said Jatinder Mann, CEO of Cetark, a cyber security services company specializing in Microsoft Security portfolio. “Observo AI empowers Security teams to optimize costs, speed incident response, and ensure robust security and compliance with a seamless, fast, and easy purchase option through the Azure Marketplace.”

Learn More

For more details on how Azure customers can take advantage of Observo AI’s AI-powered pipelines, read the complete announcement on the Observo AI blog. Visit the Observo AI Website at www.observo.ai Watch the Observo AI explainer video at https://vimeo.com/899662669

About Observo AI

Observo AI was created to help solve the biggest telemetry data problems. Observo helps reduce security costs by 50% or more while resolving incidents more than 40% faster. Our AI-Powered Observability Pipeline helps break-free from static, rules-based pipelines. Observo automates security and observability with a pipeline that constantly learns and improves. Minimize risks, enhance visibility, protect sensitive data, and stay in compliance with Observo AI.

Media Contact

Bryan Turriff, Observo AI, 1 5014129978, bryan@observo.ai, www.observo.ai

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SOURCE Observo AI

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VXI Global Solutions to grow Morrow, GA location with up to 300 new positions to support new clients

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September 27, 2024

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VXI Global Solutions announced today an expansion of their customer service center at 1000 Southlake Circle, adding over 300 new full-time positions to support multiple new clients.

MORROW, Ga., Sept. 27, 2024 /PRNewswire-PRWeb/ — VXI Global Solutions, a leading provider of customer experience (CX) and business process outsourcing (BPO) solutions, announced today an expansion of their customer service center at 1000 Southlake Circle, adding over 300 new full-time positions to support multiple new clients.

“We have an amazing group of people at VXI,” said Tommy Thompson, Director of Operations for VXI Morrow. “I am delighted to be able to bring meaningful job opportunities to this community. Over 85% of our leaders are promoted internally, so there are real opportunities for career growth.”

The state-of-the-art facility offers full-time positions where high performers can earn $40,000 per year with impressive weekly incentives depending on the client program they support. VXI is looking for applicants with experience in Customer Service, Sales, and Tax Preparation all with start dates throughout October and November 2024.

Local Head of Talent Acquisition, Chelsea Yancoskie, shared, “We are excited to welcome our new clients and offer these on-site positions to the local community, providing opportunities to share in our success. We’re not only looking for customer service professionals but also individuals with significant experience in sales and income tax preparation. Starting wages begin at $17 per hour, with some positions offering up to $19 per hour depending on the candidate’s qualifications.”

VXI provides paid training, comprehensive medical, dental, and vision benefits, 401(k) options, paid time off, and one of the industry’s best unlimited employee referral programs. VXI Morrow is located in Southlake Mall, so employees can easily access the Food Court and retail shops just steps away, offering convenience during breaks and before or after shifts. Team members are encouraged to “Stand Out & Fit In” by participating in the Visionaries & Passion4 volunteer programs focused on promoting an inclusive workplace and community support events. Additional perks include discounted cell phone plans, rewards programs, and frequent prize giveaways and free luncheons.

“We have an amazing group of people at VXI,” said Tommy Thompson, Director of Operations for VXI Morrow. “I am delighted to be able to bring meaningful job opportunities to this community. As one of the largest certified minority-owned businesses in the US, VXI was recently recognized as one of Newsweek’s Greatest Places to Work for Diversity and our culture is second to none. Over 85% of our leaders are promoted internally, so there are real opportunities for career growth.”

To learn more and apply, please visit the VXI Careers website or click the link: VXI Morrow apply

About VXI Global Solutions 

VXI Global Solutions is a BPO leader in customer service, customer experience, and digital solutions. Founded in 1998, the company has over 40,000 employees in more than 40 locations in North America, Asia, Europe, and the Caribbean. VXI delivers omnichannel and multilingual support, software development, quality assurance, and CX advisory, automation, and process excellence to the world’s most respected brands.

VXI is backed by private equity investor Bain Capital and is one of the fastest growing, privately held business services organizations in the United States and the Philippines, and one of the few U.S.-based customer care organizations in China.

For more information, visit http://www.vxi.com.

Media Contact

VXI Corporate Communications, VXI Global Solutions, (213) 637-1300, comms@vxi.com, https://vxi.com/

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SOURCE VXI Global Solutions

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Custom T-Shirt Printing Market to Grow by USD 2.01 Billion from 2024-2028, Driven by Customized T-Shirts as Branding Tools; AI Driving Market Transformation – Technavio

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September 27, 2024

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NEW YORK, Sept. 27, 2024 /PRNewswire/ — Report with the AI impact on market trends – The Global Custom T-Shirt Printing Market size is estimated to grow by USD 2.01 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 7.44% during the forecast period. Growing use of customized T-Shirts as branding tool is driving market growth, with a trend towards M and A, partnerships, and expansion of business by opening new offices However, fragmented nature of market and huge initial investment poses a challenge – Key market players include Bewakoof Brands Pvt. Ltd., Blue Gecko Printing, Blue Gecko UK Ltd., Cimpress Plc, Claranova SE, CustomInk LLC, Designhill Inc., Entripy, Ilogo, International Coatings Co. Inc., Print Safari, Printfly Corp., Printful Inc., Printo Document Services Pvt. Ltd., PT Reycom Printing Solusi, Spreadshirt Inc., THREADBIRD, TShirt Elephant, UberPrints Inc., and yourPrint.

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Graphic designed shirt and Artwork), Technique (Screen printing, Digital printing, and Plot printing), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

APAC, Europe, North America, South America, and Middle East and Africa

Key companies profiled

Bewakoof Brands Pvt. Ltd., Blue Gecko Printing, Blue Gecko UK Ltd., Cimpress Plc, Claranova SE, CustomInk LLC, Designhill Inc., Entripy, Ilogo, International Coatings Co. Inc., Print Safari, Printfly Corp., Printful Inc., Printo Document Services Pvt. Ltd., PT Reycom Printing Solusi, Spreadshirt Inc., THREADBIRD, TShirt Elephant, UberPrints Inc., and yourPrint

 

Key Market Trends Fueling Growth

Vendors in the custom T-shirt printing market are implementing strategic moves to enhance their competitive positions. In November 2021, CustomInk LLC expanded its offerings by acquiring Swag.com, a corporate swag platform, to enter the gifting-as-a-service category. Simultaneously, Printful Inc. Formed a partnership with Vexels, a leading design platform, to integrate over 500 pre-selected designs into their Design Maker tool. This collaboration aims to provide Printful’s global customers with more high-quality design options. Additionally, Printful invested over USD5 million in the UK and Poland to expand its clothing segment in Europe. These strategic initiatives demonstrate the market’s dynamic nature and vendors’ commitment to growth and innovation. 

The custom T-shirt printing market is thriving, with trends leaning towards unique logos and designs for clubs, travel industry, and outdoor sports. Unique preferences among young people for clothing that expresses personality are driving demand. Printing techniques like screen printing and digital printing offer various advantages, with screen printing providing a more traditional look and digital printing offering vibrant colors and intricate designs. The apparel market continues to grow, making custom-designed T-shirts a popular branding tool for businesses in various industries, including sports, entertainment, and even households. Affordability and accessibility through e-commerce platforms expand potential customers. Procolored printing technology and artificial intelligence enhance design insights, while customized clothing with logos, slogans, and artwork boosts brand visibility. Customized T-shirts serve as a powerful advertising tool for fan bases and social awareness campaigns. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The global custom T-shirt printing market is characterized by a high degree of fragmentation, with numerous vendors competing intensely based on pricing. This market fragmentation has resulted in price wars, causing revenue and profit challenges for market participants. Small and medium-sized vendors face additional hurdles, such as maintaining color consistency, managing quality, and marketing effectively. The screen printing technique, a common method for custom T-shirt production, involves expensive set-ups that are less cost-effective for small production runs. These factors, combined with the market’s fragmented nature and significant initial investments, pose moderate challenges to the growth of the custom T-shirt printing market during the forecast period.The custom T-shirt printing market faces several challenges in various industries. In clubs and organizations, unique logos and designs are essential for branding and member identification. The travel industry caters to young people with diverse clothing preferences, requiring affordable, custom-designed T-shirts. Outdoor sports and the sports industry demand high-quality printing techniques like Screen and Digital printing for durability and vibrant colors. Unique designs and artwork are crucial for apparel market success, with graphic design and printing technology playing significant roles. Procolored and Prospective customers in the entertainment industry seek personalized T-shirts as branding tools and advertising for their fan bases. Customized clothing, including logos and slogans, is a valuable branding strategy for businesses in various sectors. Printing techniques like Screen and Digital printing, Artificial intelligence, and E-commerce platforms offer customization opportunities. Custom-designed T-shirts cater to the needs of households and individuals, reflecting their personality and social awareness. The potential customers in the apparel market seek affordability and quality, making it essential for businesses to offer a range of normal T-shirts and customized clothing options. In conclusion, the custom T-shirt printing market faces challenges in various industries, including clubs, travel, sports, apparel, and entertainment. To succeed, businesses must focus on unique designs, affordable pricing, and high-quality printing techniques while catering to the diverse preferences and branding needs of their customers.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview

This custom t-shirt printing market report extensively covers market segmentation by

Type 1.1 Graphic designed shirt1.2 ArtworkTechnique 2.1 Screen printing2.2 Digital printing2.3 Plot printingGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Graphic designed shirt- The custom T-shirt printing market is primarily driven by the popularity of graphic-designed shirts. In 2023, graphic designs accounted for the largest market share, and this trend is anticipated to continue. Graphic-designed shirts are cost-effective due to their low production costs. Manufacturers create these shirts based on current fashion trends, increasing their appeal to consumers. Pre-printed graphic designs cater to customers seeking quick and affordable solutions, further fueling market growth. Consequently, the global custom T-shirt printing market is expected to thrive during the forecast period, with graphic-designed shirts leading the charge.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

Custom-designed t-shirts have become a popular choice for individuals and businesses looking to make a statement or boost brand visibility. With the rise of printing technology, creating customized clothing has never been easier or more affordable. Prospective customers seek out custom-made t-shirts as a unique expression of their personality and preferences. The printing technique used can significantly impact the final product, with Procolored and artificial intelligence technology offering advanced customization options. Brands recognize the value of custom t-shirts as an effective branding tool, enabling them to reach consumers in a memorable and engaging way. Normal t-shirts can be transformed into eye-catching branding vehicles, enhancing consumer decision-making and loyalty. Customized t-shirts continue to be a powerful marketing tool, offering endless possibilities for creativity and self-expression.

Market Research Overview

Custom-designed t-shirts have become a popular trend in branding and marketing strategies, offering businesses and individuals a unique way to increase brand visibility among prospective customers. Customized t-shirts serve as effective branding tools, allowing the use of logos and slogans to promote businesses, causes, or personalities. The entertainment industry, with its vast fan base, has embraced customized clothing as a powerful advertising tool. The printing technique used, whether screen printing or digital printing, plays a crucial role in the final product’s quality. Customized clothing is not only for businesses; it is also a preferred choice for sports teams, clubs, and young people seeking unique designs that reflect their personality. Affordability and the wide range of printing techniques, including Procolored and artificial intelligence, make custom t-shirts an attractive option for households. The apparel market continues to evolve, with trends in outdoor sports, the sports industry, and e-commerce driving demand for customized clothing. Graphic design and artwork play a significant role in creating unique and eye-catching designs. Printing technology advancements, such as digital printing and screen printing, offer new possibilities for customization and personalization.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeGraphic Designed ShirtArtworkTechniqueScreen PrintingDigital PrintingPlot PrintingGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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