The Board of Jacobs Solutions Inc. (NYSE:J) announced the spin-off of Critical Mission Solutions on May 9, 2023. Critical Mission Solutions generated approximately $4.4 billion in revenue in fiscal year 2022. The transaction is unanimously approved by Jacobs Solutions board of directors and is subject to final approval by Jacobs?

board of directors and other customary conditions, including the receipt of a private letter ruling from the Internal Revenue Service, opinions from tax advisors and the filing and effectiveness of a registration statement with the U.S. Securities and Exchange Commission. The transaction is expected to fiscal 2024. Centerview Partners LLC and Perella Weinberg Partners LP acted as financial advisors and Wachtell, Lipton, Rosen & Katz LLP acted as legal advisor to Jacobs Solutions Inc.