CRGT to buy federal unit of Ciber for $40M

Mon, 01/23/2012 - 6:05am
The Associated Press

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.


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