Monday, January 23, 2012

CIBER Sells Division

Greenwood Village-based CIBER, which provides information technology consulting and services, said this morning that it has sold its Federal Division to CRGT, Inc.. CRTG is owned by private equity firm Veritas Capital, and provides technology services to the Federal government. The deal was worth $40M in cash. CIBER said the move would help it focus on its core offerings. CIBER was advised in the finances of the deal by Moelis & Company, with legal advice from Hogan Lovells. CIBER said it was required by its lenders to apply in excess of $25M of the net proceeds from the transaction towards its revolving credit commitments.