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.


 
 

 

Northrop Grumman awarded position on Air Force training systems acquisition III contract

The U.S. Air Force has awarded Northrop Grumman a position on the Training Systems Acquisition III indefinite delivery/indefinite quantity contract to support war fighter training systems at global U.S. Air Force operating locations. Twelve companies have been awarded positions on TSA III, which has a ceiling value of approximately $20.9 billion over 10 years, if...
 
 
Navy photograph

Raytheon and U.S. Navy collaborate to optimize minehunting sonar

Navy photograph The Remote Minehunting System and AN/AQS-20A Minehunting Sonar on USS Independence. Raytheon is working closely with the Naval Undersea Warfare Center — Division Newport to enhance the features of the comp...
 
 

Boston Engineering receives Air Force contract to advance UAV motor control capabilities

Boston Engineering today announced a $150,000 contract from the U.S. Air Force to enhance its UAV capabilities and to also reduce drone noise. Specifically, Boston Engineering will demonstrate an embedded motor control platform to accelerate U.S. Air Force UAV research and development initiatives. Embedded motor controllers underpin critical UAV operations including drone propulsion and sensors...
 

 

Boeing receives $1.49 billion contract for 13 P-8A Poseidon ircraft

Boeing will provide the first P-8A Poseidon maritime surveillance aircraft for Australia and additional P-8As for the U.S. Navy following a $1.49 billion contract award from the Navy for 13 aircraft. The order includes nine aircraft for the U.S. Navy and four Poseidon aircraft for the Royal Australian Air Force, a long-time partner to the...
 
 

Boeing completes 777X firm configuration

Boeing announced Aug. 27 the completion of the firm configuration milestone for the 777-9, the first member of the 777X family to be developed. The Boeing 777X team reached this significant design milestone after working closely with airline customers and key suppliers to optimize the configuration of the new airplane. The 777X family includes the...
 
 

Raytheon to provide training services to U.S. Air Force

The U.S. Air Force has named Raytheon as one of the prime contractors on the Training Systems Acquisition III contract. This allows Raytheon to bid on delivery orders on this multiple award, indefinite delivery/indefinite quantity contract with a total ceiling value of $20.9 billion over 10 years. Under this Air Force Life Cycle Management Center...
 




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=""> <s> <strike> <strong>