SAN DIEGO and MCLEAN, Va. , April 21 /PRNewswire-FirstCall/ -- Science Applications International Corporation (NYSE: SAI) announced today that it has completed the acquisition of Icon Systems, Inc. (Icon), a recognized leader in the design, development and production of state-of-the-art laser-based systems and products for military training and testing. This acquisition strengthens SAIC's position in the live training environment and enables the company to provide a more comprehensive array of capabilities in this arena.
Headquartered in San Diego with more than 100 employees, Icon's capabilities include expertise in Multiple Integrated Laser Engagement System (MILES) and Tactical Engagement Simulation System (TESS) technologies for individual combatant and platform live training.
Icon will function as an operation within SAIC's Analysis, Simulations, Systems, Engineering and Training business unit, and will operate under the continuing leadership of Himanshu Parikh , Icon's co-founder and chief executive officer.
"This acquisition represents a significant step toward our goal to advance our live training offerings," said Beverly Seay , SAIC senior vice president and business unit general manager. "The need for this type of simulated training will continue to grow across the military services because it is critical to preparing the warfighter for success in combat. This is a solid strategic move that gives us significant opportunities to help our customers -- both national and international -- enhance warfighter readiness and effectiveness."
About SAIC
SAIC is a FORTUNE 500(R) scientific, engineering, and technology
applications company that uses its deep domain knowledge to solve problems of
vital importance to the nation and the world, in national security, energy and
the environment, critical infrastructure and health. The company's
approximately 44,000 employees serve customers in the Department of Defense,
the intelligence community, the U.S. Department of Homeland Security, other
U.S. Government civil agencies and selected commercial markets. SAIC had
annual revenues of
SAIC: From Science to Solutions(R)
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward- looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2008 , and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
Contact: Melissa Koskovich Laura Luke 703-676-6762 703-676-6533 [email protected] [email protected]SOURCE SAIC
