URS Corporation ( URS ) has acquired the assets of Daleville, Alabama based CATI Training Systems, which specializes in delivering advanced visual image generation systems and high fidelity visual simulation terrain databases for simulators, which are used to train civil, commercial and military pilots.
The training systems from CATI are used by the Department of Defense and commercial customers. The transaction terms have not yet been disclosed.
CATI, owned by a private group of investors, has an employee strength of approximately 12 highly specialized engineers and software developers. CATI also develops technologies that support aviation training and simulation systems for unmanned aircraft systems.
The addition of CATI's expertise will help URS to meet the rising demand of its federal clients for better training. With CATI's technology and intellectual property assets, URS will be able to develop and provide the best training solutions currently in the market. The acquisition will allow URS to develop new training solutions for its existing and new clients.
URS Corp. provides engineering, construction and technical services. As such, it offers a broad range of program management, planning, design, engineering, construction and construction management, operations and maintenance, and decommissioning and closure services to public agencies and private sector clients globally. It is also a major U.S. federal government contractor in the areas of systems engineering and technical assistance, and operations and maintenance. Major competitors of URS are AECOM Technology Corporation ( ACM ), Fluor Corporation ( FLR ) and KBR Inc. ( KBR ).
We currently maintain our Neutral rating on URS Corp. with a Zacks #4 Rank (short-term Sell recommendation) over the next one-to-three months.