Jacobs Engineering (JEC) Announces Acquisition of BAYQIK & Related Technology from Bayer
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Jacobs Engineering Group Inc. (NYSE: JEC) announced it acquired the patent rights for BAYQIK quasi-isothermal sulfuric acid converter technology and other related technology from Bayer AG.
Under the terms of the agreement, the technology transfer includes all relevant Bayer technical, commercial and market information. In addition, Bayer is providing transitional services to help ensure a seamless transfer of the BAYQIK business. Terms of the transaction will not be disclosed.
BAYQIK technology enables more efficient conversion of process gas with high SO2 concentrations. Bayer developed, piloted and commercialized the technology over the past 10 years. A full-scale installation based on the technology has operated successfully for seven years.
Commenting on the announcement, Jacobs President Petroleum and Chemicals Gary Mandel said the acquisition complements Jacobs’ existing sulfuric acid technology portfolio, enabling the company to provide state-of-the-art technology to both the low strength and high strength SO2 market segments.
“This acquisition is an exciting development for our Chemetics process technology solutions business and our process industry clients,” said Mandel.
“BAYQIK is proven to be a superior and more flexible option for processing high strength SO2 gas, a growing requirement for clients in the non-ferrous metallurgical acid plant market.
“We’re thrilled to add this robust technology to our sulfuric acid technology portfolio and offer this capability to clients by leveraging the global reach of Jacobs’ network.”
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Perma-Fix (PESI) Names S. Robert Cochran to Board of Directors
- Bioptix (BIOP) to Terminate Some Employees Associated with Acquisition of its Subsidiary
- Bristol-Myers Squibb (BMY), Ono Enter Settlement and License Agreement with Merck (MRK) to Resolve PD-1 Antibody Patent Litigation
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!