Canadian engineering giant AtkinsRéalis (TSX: ATRL) has entered into a definitive agreement to acquire Coras Solutions, a Canberra-based defence and national security advisory consultancy, in a deal that marks the company's second Australian acquisition in the past two weeks.
The move follows AtkinsRéalis' announcement on 21 April of a scheme implementation deed to acquire Australian engineering consultancy WGA, which has about 800 professionals across the country.
Founded in 2015, Coras employs 70 people and provides strategic advisory, program management and technical consulting services to the Australian Defence Force and national security agencies.
AtkinsRéalis says the acquisition positions it at the "front end" of major defence programs, where early-stage advisory engagement typically opens the door to higher-value, longer-duration work.
The back-to-back deals come as Canberra ramps up military spending under the 2026 National Defence Strategy, with the federal government pledging an additional $53 billion over the next decade.
Total defence spending through the Integrated Investment Program is expected to reach $425 billion, with Australia targeting 3 per cent of GDP by 2033.
AtkinsRéalis says Coras' deep relationships across Australia's defence establishment will complement Adelaide-based WGA's regional engineering expertise and strengthen the company's position in a rapidly expanding market.
“Joining forces with Coras will bolster our defence proposition in Australia by bringing in a highly respected and credible advisory firm with deep client relationships and a strong track record of delivery,” says Richard Robinson, AMEA president at AtkinsRéalis.
“Founded by veterans and renowned for its deep sector knowledge, Coras has built credibility in the market through outstanding advisory services and the way it supports clients through practical, human-centered solutions to complex challenges.
"The combination of AtkinsRéalis’ global Defence, engineering and infrastructure expertise, our engineering capabilities in ADG and our agreement to acquire WGA, we are augmenting our Australian capabilities to build a stronger and more integrated offer for Defence clients as their needs continue to evolve.”
Phil Cutts, CEO of Coras, says that following the acquisition the firm plans to preserve its identity while gaining access to AtkinsRéalis' global capabilities.
“Over the past decade, Coras has focused on working alongside Defence to solve important problems with clarity, rigour and a strong understanding of their operating environment,” says Cutts.
“Working with AtkinsRéalis allows us to build on that foundation and rise to meet the future challenges within Defence and national security.
"It gives our clients and our team access to broader global expertise which will strengthen our ability to support Australia’s defence priorities as part of a larger, complementary business.”
The Coras transaction is expected to close in the coming months, subject to customary conditions.
The financial terms of both the Coras and WGA deals remain undisclosed.
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