Exclusive: Acquisitions a preview of what's ahead for RTI, which is hiring in Triangle
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Research Triangle Park, N.C. — RTI International on Monday disclosed two acquisitions - and more appear to be on the horizon. Plus,here's some good news for job seekers: RTI is hiring in the Triangle.
In an exclusive Q&A interview, Dr. Wayne Holden, RTI's CEO, explained why the huge independent, nonprofit research institute made the deals - and what could be coming in 2017.
"Acquisitions will continue to be part of our strategy moving forward," Holden explained.
"We will publicly announce acquisitions at the time of their completion."
RTI, which launched in 1958 as one of RTP's first major institutions, is an independent nonprofit institute with more than 4,700 employees spread across more than 75 countries. The deals announced Monday push RTI past the 5,000 employee level and further expands its geographic footprint.
The Monday announcements:
- RTI is adding nearly 40 consultants to its global arsenal of research and related services by acquiring a division of Colorado-based Riverside Technology.
- International Resources Group, a provider of services to the U.S. Agency for International Development and with contracts around the world, is now part of RTI after that acquisition formally closed.
The deals reflect RTI's acquisition strategy. Holden and company are looking for opportunities to grow - and research groups looking to sell approach RTI.
"IRG was looking to be acquired," Holden said.
" Riverside Technologies was identified as a potential acquisition through a comprehensive environmental scan."
More jobs, offices
In addition to more personnel, the deals give RTI a bigger presence in Washington, D.C. and a new office in Colorado.
"These acquisitions add approximately 340 staff and new RTI offices in Fort Collins, Col. and Alexandria, Va.," Holden noted.
As for local jobs, he is looking for talent.
"We are constantly advertising new positions across a wide range of areas and have job openings in RTP," Holden said.
"Please check our listings for comprehensive information at RTI.org."
A check of the RTI site early Tuesday found listings for nine positions in RTP ranging from business development to data scientist.
RTI employs nearly 3,000 people in the U.S. with the majority of those located at its RTP campus.
In addition to the new deals, RTI has been very busy. It recently opened a new office in Seattle, named a new executive to lead operations of a subsidiary in India, and also sold a semiconductor group based in RTP to a Florida firm.
The nonprofit reported revenues of just over $831 million in 2015 with 1,284 clients spread around the world and its staff working on nearly 3,700 projects.
While financial terms of Monday's deals were not disclosed, Holden said the acquisitions "are being self funded through our cash reserves."
Targeting the "human condition"
RTI isn't resting on any laurels, either. Holden said the latest deals are designed to expand RTI's reach and capabilities.
"The capabilities brought to RTI by these acquisitions strengthens our abilities to conduct research and to deliver evidence based solutions in vitally important content areas impacting the human condition," he said.
When asked how the two new deals will help RTI meet that objective, he pointed out:
"Both of our recent acquisitions expand our capabilities to deliver services in areas of strategic importance to us in the future.
"Riverside technologies adds additional hydrological modeling capacity and other environmental management capabilities that bolsters our ability to address water scarcity and quality on a global level.
"IRG adds new capabilities in food and agriculture, energy and environment to our already extensive international development portfolio."
WRAL TechWire Publisher and Editor Rick Smith dishes out tidbits from the local technology sector. Read more articles…
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