The Novato-based Bay Institute closed a $9.5 million deal Thursday to purchase the Aquarium of the Bay at Pier 39 in San Francisco and operate it as a center for bay research and education.

Originally opened as Underwater World in 1996, the aquarium declared bankruptcy in 1999, was acquired by BNP Paribas in 2000 and then underwent a massive renovation and reached profitability. In 2005, the Bay Institute moved to acquire the aquarium and turn it into a nonprofit center for education, science and conservation.

"As a result of the acquisition, the Bay Institute's work to protect the largest estuary on the West Coast of the Americas will reach a larger audience, while Aquarium of the Bay will be able offer broader school programs, undertake more aggressive research and conservation projects, and become a crossroad for collaboration among the scientific, educational, interpretive and conservation communities," said Executive Director Christina Swanson.

Contact Mark Prado via e-mail at mprado@marinij.com



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