URS to Acquire Federal IT Services Provider Apptis Holdings for $260M (URS)

URS Corporation URS and Apptis Holdings, Inc., a leading provider of information technology and communications services to the federal government, announced today that they have signed a definitive agreement under which URS will acquire Apptis for a net purchase price of approximately $260 million in cash. Apptis, which is majority owned by affiliates of New Mountain Capital and headquartered in Chantilly, Virginia, provides high-end IT services to the U.S. Department of Defense, including all four branches of the military and the Defense Information Systems Agency, and to other federal entities, including the Departments of State, Transportation, Justice, and Homeland Security. The company has staff of approximately 1,000 seasoned professionals working from offices in 35 states and nine international locations. In 2010, Apptis had revenues of $298.2 million.