Quanta Acquisition and Name Change
On August 30, 2007, Quanta Services acquired InfraSource Services through an all stock deal. Before the merger, Engineering News-Record ranked Quanta Services as the second-largest specialty contractor in the United States and InfraSource Services as No. 8. This acquisition received popular attention after being given positive coverage on Jim Cramer's Mad Money show and in the magazine Smart Money.
After the acquisition, InfraSource Technology changed its legal name to Quanta Technology LLC. In terms of the original InfraSource strategy, Quanta Services decided to (1) support the growth of Quanta Technology, and (2) not aggressively increase its capability in design engineering. Quanta Technology is organizationally located in the Electric & Gas division of Quanta Services.
Read more about this topic: Quanta Technology
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