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 March 6, 2015

News: IG: VHA misappropriated $92.5M for claims system - The Veterans Health Administration (VHA) misappropriated more than $90 million intended for medical support and compliance programs in order to build an automated claims processing system, according to an Inspector General report released this week.   Business: Gulf arms race fuels UAE push for defense industry - Soaring...
 
 

News Briefs March 6, 2015

Man charged with theft of military documents seeks release An engineer who worked for a defense contractor who’s been charged with attempting to travel to China with stolen documents on the development of advanced titanium for U.S. military aircraft is asking a judge to free him while he awaits trial. A hearing on Yu Long’s...
 
 
Air Force photograph by Rick Goodfriend

AFRL offering prize for turbine engine development

Air Force photograph by Rick Goodfriend Discover meetings to be held in Ohio on March 24-25. The Air Force Research Laboratory is leading the first Air Force technology prize, issuing a challenge to develop a small, efficient t...
 

 
Lockheed Martin photograph

Lockheed Martin P-3 Orion wing line restarted

Lockheed Martin photograph From left: Peter Hillier, Karen Eilbmeier, and Michael Spurr from the Canada Department of National Defence were on hand to commemorate the reopening of the P-3 wing line at Marietta, Ga.   Lockh...
 
 
Army photograph

Army Research Laboratory lays out science and technology priorities through 2019

Army photograph Dr. Rick Beyer, propulsion science expert, aligns a sample in a Bruker Wide-angle X-ray scattering camera at the Army Research Laboratory in Adelphi, Md. The laboratory recently released its technical implementa...
 
 
Air Force photograph by A1C Dillian Bamman

‘Iron Horse’ sets off for final flight

Air Force photograph by A1C Dillian Bamman Aircraft 62-1863 ‘Iron Horse’, a HC-130P Combat King, rests before takeoff Mar. 3, 2015, at Moody Air Force Base, Ga. Throughout its career, Iron Horse has flown for over 27,000 ho...
 




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>