Science Applications International Corp. (SAIC), of McLean, Va., announced May 4 that the company has completed its acquisition of Scitor Holdings Inc. for $790 million in an all-cash transaction.
“I am very excited to welcome Scitor employees to the SAIC family. This transaction expands the markets we serve, and we are dedicated to ensuring continuity of the mission to our customers,” SAIC CEO Tony Moraco said. “Together, we are redefining ingenuity in the technology integration marketplace by leveraging the capabilities from both companies to increase revenues and earnings.”
“Today marks the completion of the next step in Scitor’s evolution to support the vital missions of our customers,” Scitor President Timothy Dills said. “Uniting our two very forward-leaning companies increases the magnitude of services we can provide for our customers and opportunities available for our employees.”
Scitor is a national security provider focused on classified U.S. Air Force and intelligence community programs.
SAIC expects the revenue of the combined company’s intelligence business to be approximately 11 percent of its customer mix. Scitor employees will join SAIC under the newly-created Intelligence Community Customer Group led by Dills, reporting directly to Sector President Nazzic Keene.
Related: SAIC to Acquire Scitor Corp. for $790M, Expected to Close in May 2015
