Date: May 30, 2007 Source: (
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Huntsville, Ala., May 30, 2007 -- Analytical Services, Inc. (ASI) today announced that it has entered into a definitive agreement to be acquired by ASRC Federal Holding Company (ASRC Federal), a subsidiary of Arctic Slope Regional Corporation (ASRC).
Founded in 1992, ASI is a privately held small business providing management and technical solutions in the aerospace and defense marketplace. Headquartered in Huntsville, Alabama with over 300 employees across the U.S., ASI will function as a wholly owned subsidiary of ASRC Federal and maintain their current size standard and operational structure. ASI founder and CEO Irma L. Tuder will continue as ASI's board chair and set corporate strategic direction. ASI president and managing director, MG John W. Holly, (USA, ret.) will continue managing daily operations of the company. With the transaction, ASI will have access to a workforce of over 2,500 engineers, technicians and program support personnel. These gains will help continue to meet the needs of current customers and help posture for continued growth fueled by the recent Base Realignment and Closure (BRAC) decisions and greater demand for contractor services.
Irma L. Tuder, ASI's founder and chief executive officer stated, "We see significant strategic value in this acquisition, as it will complement our high-end management and technical services and combine talented resources to ensure leadership in the markets we serve. ASRC Federal's goals and strong ethical values are closely similar to what our employees have grown accustomed to - that is to exceed customer expectations, and then some. We look forward to providing our customers with an expanded high level of service and added growth opportunities for our employees."
Richard E. Ambrose, ASRC Federal chairman and chief executive officer stated, "The acquisition of ASI supports ASRC Federal's strategy to expand its presence in markets positively influenced by the BRAC process. ASI was an excellent fit in terms of technical excellence, leadership, culture, markets and high ethical standards. Plans are to continue to position ASI as a premier company within the Huntsville aerospace and defense community and across the U.S., enhancing the company's ability to provide high-end services for its existing and future customer base."
ASI's president and managing director, MG John W. Holly (USA Ret) stated, "This is a great strategic move by both companies. I am excited that we will expand our capabilities and provide our customers with even greater levels of support that capitalizes on the strengths of both companies. I am proud of ASI and look forward to the many new opportunities presented in teaming with ASRC Federal."
Based in Greenbelt, Maryland, ASRC Federal supports multiple small businesses across fifteen service areas that include engineering, information technology, management and high technology research and development. Major customers include organizations from the Army, Air Force, NASA, National Oceanic and Atmospheric Administration (NOAA), the Department of Homeland Security and the Department of Energy.
The transaction is expected to close in June, subject to customary closing conditions. Financial terms have not been disclosed.
Contact:
asicommunications@asi-hsv.com
