AECOM Technology Corporation has announced today that the company has completed its acquisition of URS Corporation with broad support from stakeholders.

“Today is an exciting and historic day – for our industry, for AECOM and URS, and for our nearly 100,000 people around the world who are serving our clients in over 150 countries,” said Michael S. Burke, AECOM chief executive officer. “Beyond the compelling benefits that this transaction creates for our combined clients, stockholders and employees, the combination of AECOM and URS dramatically accelerates our strategy of creating an integrated delivery platform with superior capabilities to design, build, finance and operate infrastructure assets around the world.”

AECOM said the acquisition would further diversify and broaden its market presence, as URS brings strong sector expertise in important end markets, including oil and gas, power and government services. URS would also add to AECOM’s construction capabilities, deepening a core competency that AECOM will be able to leverage across its global platform.

“During the past three months, as we have advanced our integration planning efforts, my belief that AECOM and URS had highly complementary operations and cultures has been solidly confirmed,” Burke continued. “Our leaders have collaborated to develop a comprehensive integration plan that will leverage our greater scale across our global platform. We are confident that we will achieve our target of US$250 million in annual cost synergies.”

Following the acquisition of URS, AECOM now has nearly 100,000 employees — including architects, engineers, designers, planners, scientists and management and construction services professionals — serving clients in more than 150 countries around the world. AECOM companies, including URS, had revenue of $19.2 billion during the 12 months ended June 30, 2014.