Optimal GEO Closes Purchase Agreement with PAR
ATHENS, AL (September 9, 2019) - Optimal GEO, Inc., a small business geospatial services firm based in Athens, AL, has completed the acquisition of certain assets of Precision Aerial Reconnaissance, LLC (PAR). The target assets acquired generate approximately $2 million of annualized revenue.
Optimal GEO entered into the Contract Purchase Agreement with PAR that provided for the acquisition of certain assets, including all federal government contracts. Among these assets are survey and mapping contracts with the US Army Corps of Engineers (USACE) and the US Geological Survey (USGS). Following the acquisition, Tim Summey joined Optimal GEO to support the growth of the business relationships with USACE and USGS.
Optimal GEO will be fulfilling the USACE and USGS commitments immediately. “This is an exciting time to be part of Optimal GEO, both for the opportunities this acquisition provides our employees and to further expand our professional geospatial services within the federal government.” said John Merritt, VP Programs.
“Optimal GEO continues to evaluate strategic growth opportunities. The assets acquired from PAR are a natural fit into Optimal GEO’s geospatial portfolio.” said Mark Brooks, Chief Operating Officer of Optimal GEO.