URS Corporation (NYSE: URS) today announced that the Company has completed its acquisition of Apptis Holdings, Inc., a leading provider of complex information technology services to the federal government, for a purchase price of $260 million in cash.
Randall A. Wotring, President of URS' Federal Services business, commented, "We are pleased to have completed the acquisition of Apptis and we look forward to collaborating with its highly skilled team of professionals as we combine our operations. The acquisition significantly enhances URS' capabilities in complex IT services - which are expected to be one of the fastest growing segments of the federal market. Apptis' expertise in network engineering, identity management, cyber defense and cloud computing technologies has been provided to multiple federal agencies, including the U.S. Department of Defense, and the Departments of State, Transportation, Justice, and Homeland Security, and will augment URS' ability to provide a full life cycle of services to our federal customers."
Apptis had been majority owned by affiliates of New Mountain Capital. The acquisition does not include the Iron Bow product reseller subsidiary of Apptis, which will continue to operate as an independent, stand-alone company.
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