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URS 0.01 : URS Completes Acquisition of Apptis Holdings, Inc.

06/02/2011 | 08:35am US/Eastern
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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.

URS Corporation (NYSE: URS) is a leading provider of engineering, construction and technical services for public agencies and private sector companies around the world. The Company offers a full range of program management; planning, design and engineering; systems engineering and technical assistance; construction and construction management; operations and maintenance; and decommissioning and closure services. URS provides services for power, infrastructure, industrial and commercial, and federal projects and programs. Headquartered in San Francisco, URS Corporation has approximately 47,000 employees in a network of offices in more than 40 countries (www.urs.com).

Forward-Looking Statements

Statements contained in this press release that are not historical facts may constitute forward-looking statements, including statements relating to whether any of the anticipated benefits of the acquisition will be realized as well as future economic, business and industry conditions. We believe that our expectations are reasonable and are based on reasonable assumptions; however, we caution you against relying on any of our forward-looking statements as such forward-looking statements by their nature involve risks and uncertainties. A variety of factors, including but not limited to the following, could cause our business and financial results, as well as the timing of events, to differ materially from those expressed or implied in our forward-looking statements: declines in client spending; changes in our book of business; our compliance with government contract procurement regulations; integration of acquisitions; employee, agent or partner misconduct; our ability to procure government contracts; liabilities for pending and future litigation; environmental liabilities; availability of bonding and insurance; our reliance on government appropriations; unilateral termination provisions in government contracts; our ability to make accurate estimates and assumptions; our accounting policies; workforce utilization; our and our partners' ability to bid on, win, perform and renew contracts and projects; liquidated damages; our dependence on partners, subcontractors and suppliers; customer payment defaults; impairment of our goodwill; the impact of changes in laws and regulations; a decline in defense spending; industry competition; our ability to attract and retain key individuals; retirement plan obligations; risks associated with international operations; business activities in high security risk countries; third-party software risks; natural and man-made disaster risks; our relationships with labor unions; our ability to protect our intellectual property rights; anti-takeover risks and other factors discussed more fully in our Form 10-Q for the period ended April 1, 2011 as well as in other reports subsequently filed from time to time with the United States Securities and Exchange Commission. The forward-looking statements represent our current intentions as of the date on which they were made and we assume no obligation to revise or update any forward-looking statements.

URS Corporation
Sam Ramraj, 415-774-2700
Vice President,
Investor Relations
or
Sard Verbinnen & Co
Hugh Burns/Jamie Tully/Meghan Stafford
212-687-8080


© Business Wire 2011
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