SCRA will sell its private, non-profit affiliate, Advanced Technology International (ATI) to Analytic Services Inc. (ANSER), an independent public service institute in Falls Church, Virginia. SCRA expects the transaction to close on January 31.
ANSER is a 58-year-old non-profit organization focused on helping United States government decision-makers address complex problems so they can make better decisions. ANSER’s primary area of focus is national security, providing objective, timely and forward thinking analysis independent of political or commercial influences.
ATI manages research and development collaborations for the U.S. government that range from medical technologies, shipbuilding and ordnance and serves many Department of Defense agencies. ATI was created in 1998 to assist in SCRA’s long-term sustainability.
“This announcement is a win for everyone,” said Secretary of Commerce Bobby Hitt. “South Carolina gets a great new corporate citizen in ANSER, SCRA has recommitted itself to growing the state’s Innovation Economy and we keep the core ATI business and jobs in Summerville.”
In 2016, the SCRA Board of Trustees’ Executive Committee separated the ATI personnel from SCRA to better ensure a core focus on SCRA’s mission.
“The parallel missions of ATI and ANSER to provide solutions to the U.S. government make the acquisition a natural fit for both companies,” said Bob Quinn, SCRA Executive Director. “This sale will keep a homegrown company in South Carolina and give SCRA the opportunity to advance our mission to create high-paying jobs by enhancing the Innovation Economy. The sale fosters our renewed commitment to supporting entrepreneurs, enabling academic research and its commercialization and connecting industry to innovators.”
“ATI’s unique R&D collaboration work with the government will complement the portfolio of solutions we are able to offer our government clients,” said Carmen Spencer, President and CEO of ANSER. “Together, ANSER and ATI will focus on informing decisions that shape our nation’s future.”
A particularly crucial consideration in approving the transaction was retaining jobs and the core business in South Carolina. Spencer said ATI and its 165 employees will remain in Summerville. The purchase will allow ANSER to provide the best possible advice to its government clients regarding technology developments due to the research and development collaborations managed by ATI.
“We are excited to join the ANSER team – a team who values ATI’s business expertise and with whom ATI shares an incredible sense of commitment to the nation, our clients and our employees,” said ATI President and CEO Chris Van Metre.
Under the terms of the sale agreement, SCRA will receive approximately $25 million. In addition, SCRA could receive up to an additional $15 million over the next four years based on the growth of ATI’s support to ANSER’s federal sponsors.
Powered by WPeMatico