URS Corporation (NYSE: URS) has announced it has completed its acquisition of Apptis Holdings, Inc., a provider of complex information technology services to the federal government, for $260 million cash.
The acquisition does not include Apptis’ product reseller subsidiary Iron Bow, which will continue to operate as an independent, stand-alone company. Apptis had been majority-owned by affiliates of New Mountain Capital.
Randall A. Wotring, president of URS’ federal services business, said Apptis’ team was highly skilled and brought valuable experience providing federal agencies with network engineering, identity management, cyber defense and cloud computing services and technologies.
“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, ” he added.