SAIC Completes Acquisition of Scicom Technologies |
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SAIC Corp.
1710 Goodridge Dr., P.O. Box 1303
McLean, VA, 22102
USA
Press release date: September 12, 2007
SAN DIEGO and MCLEAN, Va., Sept. 12 / -- Science Applications International Corporation (NYSE:SAI) announced today that it has completed the acquisition of Scicom Technologies Private Limited (Scicom), a provider for onsite and offshore hydrocarbon exploration product development services and technology consulting in the science and engineering sector. Scicom delivers large-scale data modeling and simulation management solutions, spatial data management for the energy industry and diagnostic imaging for healthcare.
The acquisition strengthens SAIC's position in the oil and gas, utilities and life sciences industries and allows the company to provide a more comprehensive array of scientific and engineering services to its customers. The Scicom organization will transition to SAIC under the continuing leadership of Indranil Chakravarty, Ph.D., Scicom's chief executive officer.
"The SAIC corporate culture and values are similar to ours. We all respect and appreciate the quality of our people," said Chakravarty. "An ideal acquisition is one in which the whole is greater than its parts and this certainly is the case with Scicom and SAIC. In addition to the benefits for Scicom and SAIC, the other winner will be our customers who now have access to a greater array of products and services combined with Scicom's agility and flexibility to take care of our customers' most important challenges."
Headquartered in New Delhi, India, Scicom will be operated as part of SAIC's Commercial Business Services Business Unit.
"With its image visualization and technical product development expertise, Scicom brings a unique set of capabilities to SAIC," said Charles Koontz, president of SAIC's Information Technology and Network Solutions Group. "The acquisition positions SAIC to become a major provider of data centric customer services in the upstream oil and gas market. Additionally, Scicom will make it possible for SAIC to expand its footprint in the life sciences and healthcare markets and strengthen its technical base by adding strong imaging and petro-technical skills. We look forward to welcoming Scicom employees to the team."
Terms of the acquisition were not disclosed. SAIC is a leading provider of scientific, engineering, systems integration and technical services and solutions to all branches of the U.S. military, agencies of the Department of Defense, the intelligence community, the U.S. Department of Homeland Security and other U.S. Government civil agencies, as well as to customers in selected commercial markets. With more than 44,000 employees in over 150 cities worldwide, SAIC engineers and scientists solve complex technical challenges requiring innovative solutions for customers' mission-critical functions. SAIC had annual revenues of $8.3 billion for its fiscal year ended January 31, 2007.
SAIC: FROM SCIENCE TO SOLUTIONS®
Contact: Ron Zollars, San Diego 858/826-7896 zollarsr@saic.com
Melissa Koskovich, McLean 703/676-6762 koskovichm@saic.com
FCMN Contact: zollarsr@saic.com
Source: SAIC
Web site: http://www.saic.com/
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