CRGT to buy federal unit of Ciber for $40M
Government technology contractor CRGT Inc. said Monday it has signed a deal to acquire the federal division of information-technology consultant Ciber Inc. for $40 million.
The deal is expected to close within 90 days. Ciber plans to use proceeds from the sale above $25 million to pay down debt.
CRGT said Ciber, which is based in Greenwood Village, Colo., has a wide range of customers including every major federal government agency.
Ciber said it would take a $30 million charge to write down the value of the division it is selling.
Ciber's stock rose 26 cents, or 7 percent, to $4 in morning trading.