April 8, 2010 (FinancialWire) — ENGlobal Corp. (NASDAQ: ENG), a provider of engineering and related project services, and said that its Automation segment has acquired selected assets of Control Dynamics International, LP, a privately-held automation firm.

CDI designs and manufactures industrial automation control systems primarily for the upstream energy industry and has annual revenues of around $5.0 million, according to ENGlobal.

Under terms of the agreement, ENGlobal will not assume any CDI debt, nor will it be required to issue any stock as consideration for the acquired assets. The transaction is expected to be immediately accretive.

ENGlobal said that certain key members of CDI’s management team have entered into employment agreements with ENGlobal. Further terms of the transaction were not disclosed.

The company said that its acquisition of CDI gives it a strategic entry into the upstream energy sector.

Texas-based ENGlobal provides engineering, construction, automation, land and governmental services principally to the energy sector throughout the United States and internationally.

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