Applied Research Associates, Inc. Divests Geo-Marine, Inc.
Applied Research Associates, Inc. (ARA) has divested its wholly owned subsidiary, Geo-Marine, Inc. (GMI), to Versar, Inc.
Albuquerque, NM (PRWEB) September 04, 2013
Applied Research Associates, Inc. (ARA) has divested its wholly-owned subsidiary, Geo-Marine, Inc. (GMI), to Versar, Inc. GMI provides engineering design, construction management, environmental planning and programming, and other services in support of a range of government, industry, and commercial clients.
ARA acquired GMI in July 2009 to access certain GMI customers. This access will continue via a subcontracting and teaming relationship defined in the purchase agreement.
“We will continue to team with GMI and look forward to expanding our business internationally via the subcontracting and teaming arrangements defined in the purchase agreement,” said ARA Chief Executive Officer Robert Sues. “While we regret seeing our GMI colleagues leave ARA, we expect to continue working with them in the future. We are also excited for our former colleagues because we expect the acquisition by Versar will open new opportunities for them.”
Dr. Sues noted that the acquisition benefits Versar because GMI has access to and contracts with customers who are of interest to Versar.
About 100 GMI employees will be joining Versar, Inc., which has its headquarters in Springfield, Va. GMI is based in Plano, Texas.
About Applied Research Associates, Inc.
Applied Research Associates, Inc. (ARA) was founded 1979 in Albuquerque to solve problems of national importance by providing science and engineering research, technical support services. The company’s applied research delivers solutions for national defense, homeland security, aerospace, transportation and manufacturing.
About Versar, Inc.
Versar, Inc. is a publicly traded global project management company providing sustainable, value-oriented solutions to government and commercial clients in the construction management, environmental services, munitions response, and telecommunication and technology integration market areas.
For the original version on PRWeb visit: http://www.prweb.com/releases/2013/9/prweb11091660.htm