CRGT wraps up purchase of Ciber Federal
The $40 million acquisition gives CRGT a wider range of IT services, including enterprise architecture, application development and security.
CRGT, an IT services provider to the federal government, has completed its acquisition of the federal division of Ciber, a provider of IT outsourcing and software consulting services based in Greenwood Village, Colo.
According to a March 12 announcement from Ciber, the purchase price was $40 million.
The Ciber Federal acquisition, first announced in January, brings numerous new customer relationships and an impressive array of government contract vehicles that extends CRGT’s reach throughout the federal marketplace, the company said.
Ciber Federal has more than 1,000 employees in 45 states and six countries worldwide, further extending the Reston, Va.-based CRGT’s geographic presence and market reach.
The company offers a wide range of IT services, including enterprise architecture, application development, systems implementation and integration, operations support and security.
"This acquisition helps strengthen and extend our increasingly differentiated portfolio of service offerings and capabilities," Tom Ferrando, CRGT president and CEO, said in the announcement.
Ciber is committed to using at least $9 million of the proceeds to further pay down debt under the company’s existing credit facility, a company spokesperson said in the announcement.
CRGT is owned by Veritas Capital, a private equity group.