Science Applications International Corp. [SAIC] on Monday said it has completed its $790 million cash acquisition of Scitor Holdings, accelerating its entry into the intelligence community and classified work for the Air Force.
“This transaction expands the markets we serve and we are dedicated to ensuring continuity of the mission to our customers,” Tony Moraco, SAIC’s CEO, said in a statement.
Scitor has capabilities in systems engineering and integration, cyber security, program management, and information technology. It has about $600 million in annual sales, bringing to about 11 percent SAIC’s intelligence business as a percentage of its overall revenue mix. Scitor is a prime contractor on more than 85 percent of its contracts.
Scitor and its 1,500 employees are now part of SAIC’s newly created Intelligence Community Customer Group led by Timothy Dills, who was Scitor’s president.
“Uniting our two very forward-leaning companies increases the magnitude of services we can provide for our customers and opportunities available for our employees,” Dills said in a statement.