We present simultaneous X-ray , far-ultraviolet , and near-ultraviolet spectra of the Seyfert 1 galaxy NGC 7469 obtained with the Chandra X-Ray Observatory , the Far Ultraviolet Spectroscopic Explorer , and the Space Telescope Imaging Spectrograph on the Hubble Space Telescope . Previous non-simultaneous observations of this galaxy found two distinct UV absorption components , at -560 and -1900 km s ^ { -1 } , with the former as the likely counterpart of the X-ray absorber . We confirm these two absorption components in our new UV observations , in which we detect prominent O vi , Ly \alpha , N v , and C iv absorption . In our Chandra spectrum we detect O viii emission , but no significant O viii or O vii absorption . We also detect a prominent Fe K \alpha emission line in the Chandra spectrum , as well as absorption due to hydrogen-like and helium-like neon , magnesium , and silicon at velocities consistent with the -560 km s ^ { -1 } UV absorber . The FUSE and STIS data reveal that the H i and C iv column densities in this UV- and X-ray- absorbing component have increased over time , as the UV continuum flux decreased . We use measured H i , N v , C iv , and O vi column densities to model the photoionization state of both absorbers self-consistently . We confirm the general physical picture of the outflow in which the low velocity component is a highly ionized , high density absorber with a total column density of 10 ^ { 20 } cm ^ { -2 } , located near the broad emission line region , although due to measurable columns of N v and C iv , we assign it a somewhat smaller ionization parameter than found previously , U \sim 1 . The high velocity UV component is of lower density , \log N = 18.6 , and likely resides farther from the central engine as we find its ionization parameter to be U = 0.08 .