Date: Dec 20, 2011 Author: press release Source: Business Wire (
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SAN FRANCISCO--(BUSINESS WIRE)--URS Corporation (NYSE: URS) announced today that it has acquired the assets of CATI Training Systems, a leading designer and developer of virtual visual environments for flight simulators and a variety of other training systems for the Department of Defense and commercial customers. The terms of the transaction were not disclosed.
CATI, which is owned by a private group of investors, has a staff of approximately 12 highly specialized engineers and software developers. Headquartered in Daleville, Alabama, CATI specializes in delivering advanced visual image generation systems and high fidelity visual simulation terrain databases for the simulators used to train civil, commercial and military pilots. The Company's expertise also includes the development of technologies that support aviation training and simulation systems for unmanned aircraft systems.
Randall A. Wotring, President of Federal Services for URS, said: "The addition of CATI's high-end training and simulation capabilities will enable us to meet the evolving training requirements of our federal customers. The company has significant technology and intellectual property assets that will allow us to develop and deliver some of the best training solutions available on the market today. In addition, CATI will expand our ability to address future training needs and broaden our opportunities with existing and new clients."
Mr. Wotring continued, "CATI is helping customers such as the Department of Defense meet the increasing demand for flexible and high fidelity training for programs vital to our national security, including operating the Predator series of Remotely Piloted Aircraft. We are delighted to add CATI's exceptional team of professionals to our business."
Fred Zalzal, President of CATI said: "The opportunity to expand our business reach by joining URS is very exciting for CATI. We have enjoyed an excellent working relationship with URS on previous contracts, and this transaction will allow us to fully leverage URS' strengths in engineering and technical solutions in order to better serve our customers. Most importantly, our employees will benefit by working on larger and more complex projects. The landscape for CATI will be significantly expanded and we welcome the opportunities for new business that will come with it."
About URS
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 48,000 employees in a network of offices in more than 40 countries (www.urs.com ).
About CATI
CATI Training Systems designs and develops advanced visual image generation systems, and high--fidelity visual simulation terrain databases for both commercial and military simulators. CATI Training System′s image generators are specifically designed around industry-standard OpenGL™, a high performance graphics Application Programming Interface (API) and OpenFlight™, the 3D standard format for the visual simulation industry. X--IG™, X--100™ and X--TUAS™ image generators run on 100% COTS PC--based hardware and software, including Windows and Linux operating systems.
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; third-party software risks; natural and man-made disaster risks; 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 September 30, 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.
Contacts
URS Corporation
Sam Ramraj, 415-774-2700
Vice President, Investor Relations
or
Sard Verbinnen & Co
Hugh Burns/Jamie Tully/Briana Kelly
212-687-8080
