Company:Science Applications International Corporation

From HandWiki
Science Applications International Corporation, Inc.
TypePublic company
IndustryInformation technology and engineering
Founded1969; 57 years ago (1969) (original company)
2013; 13 years ago (2013) (as Leidos spin-off; formerly SAIC)
Headquarters
Reston, Virginia
,
U.S.
Area served
worldwide
Key people
  • Donna Morea (chairman)[1]
  • Toni Townes-Whitley (CEO)[2]
RevenueIncrease US$7.70 billion (2023)
Increase US$501 million (2023)
Increase US$303 million (2023)
Total assetsDecrease US$5.54 billion (2023)
Total equityIncrease US$1.69 billion (2023)
Number of employees
c. 25,000 (2023)
Websitesaic.com
Footnotes / references
Financials as of February 3, 2023
References:[3][4][5][6]

Science Applications International Corporation, Inc. (SAIC) is an American technology company headquartered in Reston, Virginia that provides government services and information technology support.[7]

History

20th century

The original SAIC was created in 1969 by J. Robert Beyster. Then on September 27, 2013, it spun off a $4 billion unit which retained its name,[8] while the parent company changed its name to Leidos. The business units were separated into elements focused on 1) direct support and technical advice to government organizations (the SAIC portion), and 2) capability development (Leidos). Following the split, Anthony J. Moraco was appointed CEO of SAIC, and John P. Jumper was appointed CEO of Leidos.[9] The primary motivation for the spinoff was the conflicts of interest provisions in the Federal Acquisition Regulation which prevented the company from bidding on some new contracts because of existing contracts.[10][7]

21st century

Deborah Lee James, president of SAIC's technology and engineering sector, was sworn in as Secretary of the Air Force on December 20, 2013, after being appointed by President Barack Obama.

On May 4, 2015, SAIC acquired Scitor Holdings, Inc. for $790 million to expand its presence in the intelligence industry through classified contracts, cleared personnel, and a robust security infrastructure.[11] Scitor was previously owned by Leonard Green & Partners, L.P., a private equity firm.[12]

On September 10, 2018, SAIC announced its acquisition of Engility, a competitor in the U.S. government services contracting sector, for a combined US$2.5 billion with the merger set to take place in January 2019.[13]

On February 6, 2020, SAIC announced its acquisition of Unisys US Federal, a competitor in the U.S. government services contracting sector, for a combined US$1.2 billion.[14][15]

In 2021, SAIC acquired Halfaker and Associates, a Virginia-based technology services company founded by veterans’ advocate Frances Dawn Halfaker.[16]

CityTime payroll scandal

In 2012 SAIC was ordered to pay $500 million to the City of New York for overbilling the city over a period of seven years on the CityTime contract.[17][18] In 2014 Gerard Denault, SAIC's CityTime program manager, and his government contact were sentenced to 20 years in prison for fraud and bribery related to that contract.[19]

See also

References

  1. ↑ SAIC. "Donna Morea – SAIC". https://investors.saic.com/leadership/board-directors/Donna-Morea. 
  2. ↑ SAIC. "Nazzic S. Keene – SAIC". https://www.saic.com/who-We-Are/about-SAIC/leadership/Nazzic-Keene. 
  3. ↑ "SAIC Fiscal 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 3 April 2023. https://www.sec.gov/ix?doc=/Archives/edgar/data/1571123/000157112323000031/saic-20230203.htm. 
  4. ↑ Aitoro, Jill R. (September 27, 2013). "What to expect from Leidos and SAIC when they start trading Sept. 30". Washington Business Journal. http://www.bizjournals.com/washington/blog/fedbiz_daily/2013/09/what-to-expect-from-leidos-and-saic.html. 
  5. ↑ Aitoro, Jill R. (September 27, 2013). "Exclusive: John Jumper explains why the Leidos-SAIC split had to happen". Washington Business Journal. http://www.bizjournals.com/washington/blog/fedbiz_daily/2013/09/the-saic-split-is-done-leidos-ceo.html. 
  6. ↑ "www.saic.com". http://www.saic.com. 
  7. ↑ 7.0 7.1 "One year later: The tale of SAIC and Leidos". The Washington Post. https://www.washingtonpost.com/business/capitalbusiness/one-year-later-saic-and-leidos/2014/09/26/d1fefd68-4273-11e4-b437-1a7368204804_story.html. 
  8. ↑ Jayakumar, Amrita (September 27, 2014). "One year later: The tale of SAIC and Leidos". The Washington Post. https://www.washingtonpost.com/business/capitalbusiness/one-year-later-saic-and-leidos/2014/09/26/d1fefd68-4273-11e4-b437-1a7368204804_story.html. 
  9. ↑ "- The Washington Post". The Washington Post. https://www.washingtonpost.com/business/capitalbusiness/2014/09/28/0b12f810-436a-11e4-b47c-f5889e061e5f_story.html. 
  10. ↑ Riekenberg, Philip (September 17, 2013). "SAIC: A Profitable Solution To A Conflict Of Interest". http://seekingalpha.com/article/1698422-saic-a-profitable-solution-to-a-conflict-of-interest. 
  11. ↑ "SAIC Completes Acquisition of Scitor | SAIC". http://investors.saic.com/press-release/acquisition/saic-completes-acquisition-scitor. 
  12. ↑ "Leonard Green & Partners – Past Investments". http://www.leonardgreen.com/PastInvestments.html. 
  13. ↑ "SAIC to buy rival government services contractor Engility for $1.5 billion". Reuters. September 10, 2018. https://www.reuters.com/article/us-engilityholdings-m-a-saic/u-s-government-contractor-saic-to-buy-engility-for-1-5-billion-idUSKCN1LQ1CG. 
  14. ↑ "SAIC will acquire Unisys Federal for $1.2 billion" (in en). 2020-02-06. https://wtop.com/business-finance/2020/02/saic-will-acquire-unisys-federal-for-1-2-billion/. 
  15. ↑ Warminsky, Joe (2020-02-06). "SAIC adds to IT modernization portfolio with $1.2B acquisition of Unisys Federal" (in en-US). https://fedscoop.com/unisys-federal-acquired-saic/. 
  16. ↑ "SAIC to pay $250M for health solutions company" (in en). 2021-06-03. https://washingtontechnology.com/2021/06/saic-to-pay-250m-for-health-solutions-company/359331/. 
  17. ↑ Paul McDougall (March 15, 2012). "SAIC Pays $500 Million In Record Settlement With NYC". InformationWeek. https://www.informationweek.com/it-strategy/saic-pays-$500-million-in-record-settlement-with-nyc/d/d-id/1103390?. 
  18. ↑ Grynbaum, Michael M. (2012-03-15). "Contractor Strikes $500 Million Deal in City Payroll Scandal" (in en-US). The New York Times. ISSN 0362-4331. https://www.nytimes.com/2012/03/15/nyregion/contractor-in-citytime-payroll-scandal-to-pay-record-500-million.html. 
  19. ↑ Weiser, Benjamin (28 April 2014). "Three Contractors Sentenced to 20 Years in CityTime Corruption Case". The New York Times. https://www.nytimes.com/2014/04/29/nyregion/three-men-sentenced-to-20-years-in-citytime-scheme.html. 

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