Construction giant Balfour Beatty has agreed to acquire Parsons Brinckerhoff, a US professional services firm, for $626 million (£380 million).

Construction giant Balfour Beatty has agreed to acquire Parsons Brinckerhoff, a US professional services firm, for $626 million (£380 million).

Parsons Brinckerhoff offers management consultancy and project design services to a range of industries, with particular strengths in the transport and infrastructure sectors. The firm operates through a network of more than 100 offices and employs some 12,650 employees. In the year ending October 2008, the New York-based firm generated revenue of $2.3 billion.

Balfour Beatty chief executive Ian Tyler said: ‘[The acquisition] puts Balfour Beatty in an excellent position to take advantage of increased infrastructure spending.  It is a key step in becoming a global integrated leader in infrastructure services.’

Balfour Beatty reported revenue of £4.3 billion and pre-tax profits of £66 million in the six months to June.