URS acquires Washington Group

Engineering and planning firm URS Corporation agreed to acquire Washington Group International, Inc., an engineering and construction company, in a cash and stock transaction worth approximately $2.6 billion. The companies’ combined 2006 revenues would have been $7.6 billion, the fourth highest among U.S. publicly traded engineering and construction companies. Based on previously issued guidance, the companies estimate combined 2007 revenues of approximately $8.6 billion and a total backlog exceeding $11 billion, as of March 31, 2007. The combined company, called URS Corporation, has projects in more than 50 countries and more than 54,000 employees.