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June 29, Retrieved September 1, The end of the s was a busy time for companies involved in technology and computer applications. As the Internet frenzy climaxed, many of SRA's younger employees left to join dot. However, times changed with the bursting of the dot. SRA Ventures' goal was to bring the technology SRA had developed to market, building companies from scratch to meet proven technology needs. Also that year, it purchased Marasco Newton Group, gaining services and capabilities in the environmental area, and adding the EPA as a client.
It sold its Assentor division so that it could concentrate in the areas of national security, civil government, and healthcare and public health. About 60 percent of SRA's revenue came from defense-related programs in , up from 43 percent in ; 15 to 20 percent came from healthcare and public sector health businesses or agencies.
The remainder occurred in the area of civil government, such as its contract with partner General Dynamics to design and integrate command centers for the Pentagon, and to develop systems to improve the military's ability to track people and supplies. In , SRA had about 70 active contracts, and no single contract accounted for more than 4 percent of its total revenue. When, in January , SRA purchased Adroit Systems, it opened the doors to the surveillance and reconnaissance realm of the Department of Defense and took a step toward its goal of ongoing, controlled growth through one acquisition each year.
The rest of the company's growth would occur, according to management, organically. Increasingly, SRA became known as a well-managed company. In , and for each of the six years following, Fortune magazine named it one of the best companies in the United States to work for. The company also began to make a name for itself in the workforce management realm after implementing its Nurse Advocacy Program. To offset increasing health insurance premiums, SRA instituted an in-house healthcare program with onsite clinic.
The clinic was just one instance of the ways in which SRA attempted to tap into the attitudes and values of workers. The company also responded to the basic desires and needs of workers through flextime, education reimbursements, and by ensuring that the nature of employees' work assignments suited their interests and capabilities.
They want to have meaning in their lives, and they want to be part of an organization that's special," was the way Volgenau described his company's workforce ideal in a Newsbytes article. Throughout the years to , SRA's workforce grew steadily. By , the company had 2, employees; the following year, it employed about 3,, and by the end of the year, 4, This was in part because in , although much of the tech world had not yet recovered from dot.
The Federal government was looking for help in developing surveillance software, assistance in integrating agencies brought together to make the Department of Homeland Security, and aid in analyzing reams of foreign intelligence data. SRA had the tools to respond to these needs. According to DiPentima, who took over as head of the company from Volgenau in , in a U.
SRA also grew in and through acquisitions. In , it acquired ORION Scientific Systems, a leading provider of counterintelligence, counterterrorism, and law enforcement services and solutions. In , it purchased Touchstone, a management company that helped senior government executives develop, launch, and manage strategies, and SRA's fourth government services acquisition.
Touchstone's customers included the Department of Homeland Security and Defense, intelligence agencies, and the Office of Management and Budget. Also in , in its largest acquisition yet, SRA purchased Galaxy, a provider of systems engineering, information technology, and tactical communications services and solutions to the federal government whose customers included the departments of Defense and Homeland Security and the Federal Aviation Administration.
All told, SRA served more than government clients on more than active contracts, a 32 percent increase from the year before. The company had averaged organic growth of 15 percent annually since its start, with significantly higher increases of 25 percent in , 37 percent in , and 43 percent in Under DiPentima, SRA continued to strive "not just to build shareholder value, but to serve society," befitting its corporate culture of honesty and service, according to Volgenau in a Newsbytes article.
Preparing itself for future growth, SRA implemented a new financial system for billing and collections in Accenture Ltd. Toggle navigation. User Contributions:.
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