URS to acquire Apptis Holdings
- April 27, 2011
URS Corp. of San Francisco plans to purchase government IT contractor Apptis Holdings Inc. for $260 million in cash.
Apptis, which is based in Chantilly, provides services to the military, the U.S. Department of Defenseand other government agencies. It employs about 1,000 people and had 2010 revenues of $298.2 million. Affiliates of New Mountain Capital have majority ownership in Apptis.
Apptis’ services include cyber defense, cloud technologies, network management, software engineering, and IT infrastructure and design.
“By enabling URS to serve the growing need for critical IT services, the addition of Apptis enhances our ability to continue to meet the evolving requirements of our federal customers and other agencies, including the intelligence community,” says Randall A. Wotring, president of URS’ federal services business.
The deal is expected to close in about 60 days.