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SpatialNews Press Release
Analytical Surveys Completes Sale Of Colorado Springs Office
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INDIANAPOLIS, Indiana - April 27, 2001, Analytical Surveys, Inc., (ASI)
(Nasdaq National Market-ANLT), a leading provider of customized data
conversion and digital mapping services for the geographic information
systems ("GIS") market, today announced it has completed the sale of
substantially all the assets of its Colorado Springs, Colorado-based land
mapping office. ASI sold the office to The Sanborn Map Company, Inc., for a
total consideration of $9.0 million. ASI originally announced its intent to
sell the office in February.
Norman Rokosh, president and CEO of ASI, said, "The completion of this
transaction represents a major milestone for ASI. The proceeds from this
sale will allow us to substantially reduce our debt load and interest
expense, and we are currently restructuring our borrowing arrangements with
our lending group. Moreover, we can now sharpen our management, operational
and marketing focus on our utility and cadastral mapping services, as well
as opportunities in the geospatial data management sector."
Rokosh said that Sanborn and ASI will work together to ensure that current
contracts are not impacted by the transition of ownership. Sanborn and ASI
will work with one another on a subcontractor basis to complete various
contracts that require a combination of each business' services.
"In conjunction with this transaction, ASI is reaffirming its commitment to
the utility and cadastral mapping markets," said Hamid Akhavan, Senior Vice
President of Utility Operations for ASI. "As we have done for more than
four decades, we will continue to provide a full package of customized
geospatial data management services for the entire project life cycle."
Analytical Surveys Inc. (ASI) is a premier provider of technology-enabled
solutions and expert services for geospatial data management, including data
capture and conversion, planning, implementation, distribution strategies
and maintenance services. As an industry leader for more than 40 years, ASI
is dedicated to providing utilities with responsive, proactive solutions
that maximize the value of the information and technology asset. In addition
to its corporate offices in Indianapolis, Indiana, ASI maintains several
facilities across the United States and is listed on the Nasdaq under the
symbol "ANLT." For more information, visit www.anlt.com.
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