Southern Research sells its engineering division to focus more on alignment with UAB
After securing approval from the University of Alabama Board of Trustees, Birmingham-based Southern Research has sold its engineering division to a California-based defense contractor for $80 million. The deal is with San Diego-based Kratos Defense and Security Solutions.
Southern Research plans to use the money from the transaction to invest in its other areas, particularly biomedical research, and better align with the life sciences work done with the University of Alabama at Birmingham. More specifically, proceeds from the sale will help purchase equipment and hire staff to support Southern Research’s new biotech center, which is ultimately expected to create 350 new jobs.
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