Chickasaw Nation Industries Announces Purchase of Corvid Technologies

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Acquisition marks the third transaction by CNI in the past three years as the company continues to seek opportunities to diversify its portfolio.

Chickasaw Nation Industries, Inc., a wholly-owned company of the Chickasaw Nation, has acquired Corvid Technologies, LLC, a Mooresville, North Carolina-based engineering firm. This acquisition marks the third transaction by CNI in the past three years as the company continues to seek opportunities to diversify its portfolio.

Corvid specializes in modeling and simulation services for federal and commercial customers. With more than 100 employees, the majority of its staff hold advanced degrees in the engineering sciences. Corvid has developed proprietary software around fluid dynamics, high-speed computational physics and structural biomechanics using its super computer to run large-scale computations.

Corvid Technologies adds to CNI’s growing investment portfolio of technology companies, which includes Ekso Bionics Holdings, Inc. in the health care, industrial, and military robotics market; iRpowr, LLC in the field of distributed energy; and Capstone Metering, LLC in the water distribution and conservation market.

Chickasaw Nation Governor Bill Anoatubby said that acquisition of Corvid Technologies is an integral part of CNI’s investment strategy.

“Acquisition of Corvid Technologies is part of Chickasaw Nation Industry’s strategy to develop a diverse portfolio of high-tech companies with tremendous growth potential,” said Gov. Anoatubby. “We believe innovative companies such as Corvid Technologies are leading the way in creating new markets and novel opportunities in their respective industries.”

Corvid provides CNI with the advanced engineering expertise that is highly valued by industrial, commercial and governmental customers. The company has grown rapidly due to its unique capability to greatly reduce the cost of testing, the accuracy of outcomes and the quality of design of both military and commercial items.

"We are excited by the dynamic opportunities this transaction brings,” said David Nimmo, president and CEO of Chickasaw Nation Industries, Inc. “Corvid expands our capabilities, improves our brand, opens new markets and brings a leadership team with integrity and a collaborative spirit. We share a common culture and values that reflect our dedication to building strong, lasting relationships with our clients and providing them with enhanced efficiencies, use of best practices and innovative solutions to help their projects succeed.”

About Chickasaw Nation Industries, Inc.
Headquartered in Norman, Oklahoma, Chickasaw Nation Industries, Inc. was established in 1996 and serves as a holding company with over a dozen subsidiaries that operate as Limited Liability Companies (LLCs) engaged in multiple lines of business. CNI companies provide services including administration, technology support, engineering, construction, staffing, logistics, information technology and more to a number of federal agencies and to private commercial and industrial customers.

About the Chickasaw Nation
With more than 60,000 citizens, the Chickasaw Nation is the 12th largest federally-recognized Indian tribe in the United States. The Chickasaw Nation has an annual economic impact of more than $2.4 billion in Oklahoma. The tribe has nearly 14,000 employees. A democratic republic with executive, legislative and judicial departments, the tribe's jurisdictional territory includes all or part of 13 counties in south-central Oklahoma.

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Shaundra North
since: 05/2009
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