Jacobs (NYSE: J) will adopt Jacobs Solutions as its new corporate name as part of a plan to implement a holding company structure on Aug. 29.
Common stock of Jacobs Solutions will trade on the New York Stock Exchange under the ticker symbol “J” on an uninterrupted basis, the company said Friday.
Jacobs said the establishment of a new holding company will help strengthen the expansion of its business that includes engineering and technology-forward products and services.
The transaction is meant to be tax-free and that existing stockholders of Jacobs will become shareholders of the new holding company on a one-for-one basis.
Existing officers and directors will continue to retain their positions and the new holding company will assume Jacobs’ stock incentive plans, including 1999 Equity Incentive Plan, Executive Deferral Plan and the 1989 Employee Stock Purchase Plan.
The announcement came nearly three years after Jacobs launched a new brand and logo to mark its transition from an engineering and construction firm to a global technology-driven platforms company.
