Business

February 27, 2013

SAIC announces names for planned new companies

SAIC announced Feb. 25 the names for the businesses expected to be created in the latter half of this fiscal year following its planned separation into two independent, publicly traded companies, as announced Aug. 30.

The technical services and enterprise Information Technology (IT) business will continue the SAIC name, and the national security, health and engineering business will be named ‘Leidos’ – a coined word, clipped from ‘kaleidoscope,’ signifying how the company will bring together solutions from different angles, yielding innovative and effective solutions.

“With this announcement, we take another step in the disciplined, deliberate process that will result in two world-class companies when our board approves the separation,” said Chairman and CEO John Jumper.

“With the name Leidos, we signal that the company will deliver transforming technologies, analytics and cross-disciplinary insight for our customers to deliver real-world benefits at the speed the real world demands,” said SAIC COO Stu Shea, who will serve as President and COO of Leidos. “It’s a memorable word with dynamic connotations that capture the energy, talent and passion that our employees bring as they work to deliver solutions that protect our nation, our communities, and our families.”

Continuing the SAIC name for the new services company will help enable future performance and success, according to Tony Moraco, SAIC’s future CEO.

“SAIC has brand equity built over 44 years of outstanding performance delivering for customers in technical services and enterprise IT, and we will capitalize on that,” he said. “We will be going to the marketplace with both a current success story and the beginning of a new era.”

The separation is expected to occur in the latter half of the company’s fiscal year, pending final approval of SAIC’s Board of Directors. The name change is subject to stockholder approval.

 




All of this week's top headlines to your email every Friday.


 
 

 

Headlines October 24, 2014

News: U.S., South Korea delay transfer of wartime control - The U.S. and South Korea have delayed transferring wartime operational control of allied forces by taking on a “conditions-based approach” and scrapping the previously set deadline of 2015.   Business: Exclusive: Lockheed, Pentagon reach $4 billion deal for more F-35 jets - Lockheed Martin and U.S. defense...
 
 

News Briefs October 24, 2014

French moving troops toward Libyan border A top French military official says the country is moving troops toward the Libyan border within weeks and, along with U.S. intelligence, is monitoring al Qaeda arms shipments to Africa’s Sahel region. A French base will go up within weeks in a desert outpost just a hundred kilometers (60...
 
 
Navy photograph

Navy to commission submarine North Dakota

Navy photograph The PCU North Dakota (SSN 784) during bravo sea trials. The crew performed exceptionally well on both alpha and bravo sea trials. The submarine North Dakota is the 11th ship of the Virginia class, the first U.S....
 

 

Boeing announces SF Airlines order for Boeing converted freighters

Boeing announced Oct. 23 that SF Airlines has placed an order for an undisclosed number of 767-300ER passenger-to-freighter conversions (Boeing Converted Freighters). SF Airlines, a subsidiary of Shenzhen, China-based delivery services company SF Express, will accept its first redelivered 767 in the second half of 2015. “SF Express aims to become China’s most respected and...
 
 
LM-C130

Another Super Herc Little Rock Rollin’

  Lockheed Martin delivered another C-130J Super Hercules to the 61st Airlift Squadron at Little Rock Air Force Base, Ark., Oct. 23. Little Rock AFB’s new C-130J was ferried from the Lockheed Martin Aeronautics facility ...
 
 

United Technologies beats third quarter profit expectations

United Technologies Corp. Oct. 23 reported third-quarter profit of $1.85 billion as sales increased across all its businesses and the aerospace giant reported favorable tax settlements. The Hartford, Conn.,-based company said it had profit of $2.04 per share and earnings, adjusted for non-recurring gains, came to $1.82 per share. The results topped Wall Street expectations,...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>