The $3.3bn (£2.5bn) deal will double the size of the Australian engineering services firm.

The latest deal comes amid a major portfolio shake-up as Jacobs following its purchase of rival CH2M Hill last year and the £2.2bn takeover of Amec Foster Wheeler by UK oilfield services firm John Wood Group.

The latest deal will be paid for with $2.6bn in cash and $700m in WorleyParsons ordinary shares and represents a multiple of more than 11.5 times adjusted pre-tax profit.

Once complete, Jacobs will be focused solely on its two higher growth business streams – Aerospace, Technology, Environmental & Nuclear;  and Buildings, Infrastructure & Advanced Facilities.

Jacobs chairman and CEO Steve Demetriou, said: “The increased financial flexibility we gain from this sale better positions us to invest in our ATEN and BIAF businesses, focusing our premier talent and expertise on technology, innovation and sustainable solutions that are priorities for our infrastructure and government services clients.”