SAN DIEGO and MCLEAN, Va., March 18 /PRNewswire-FirstCall/ -- Science Applications International Corporation (NYSE: SAI) announced today that it has signed a definitive agreement to acquire SM Consulting, Inc. (SMC). Headquartered in Linthicum, Md., SMC provides services in language, intelligence, information technology, management consulting, business process outsourcing, training, and logistics to federal, state and local governments and private industry.
SMC offers extensive domain expertise in linguistic services, providing foreign language translation, interpretation and training services in the defense and intelligence communities. The company is a leading provider on the General Services Administration Language Services schedule, and its training services program is accredited by the nationally recognized Accrediting Council for Continuing Education and Training.
"We have established an ideal relationship with SAIC -- a firm whose corporate values, commitment to the customer, and focus on employees mirror our business philosophies," said Sheila Heinze , SMC president and chief executive officer. "This transaction will allow us to provide a broader range of capabilities to support our customer's critical missions. In addition, we believe SAIC will provide our employees greater opportunities for further personal and professional development. We are very pleased to become part of the SAIC team."
SMC will join SAIC's Mission Integration Business Unit, headquartered in Reston, Va.
"By combining SMC's expertise with that of SAIC, we will offer enhanced capabilities, particularly in language and analytical services, to support the mission-critical programs in the markets we serve," said John P. Hynes, Jr., SAIC senior vice president and business unit general manager. "SMC's customer focus and commitment to innovation align well with our mission and heritage. We look forward to welcoming the SM Consulting employees to the SAIC team."
SMC employs more than 460 people and has offices in Linthicum, Md., Reston, Va., and other U.S. locations.
The acquisition is expected to close by the end of April 2008 , subject to customary closing conditions, including expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
About SAIC
SAIC is a leading provider of scientific, engineering, systems integration
and technical services and solutions to all branches of the U.S. military,
agencies of the Department of Defense, the intelligence community, the U.S.
Department of Homeland Security and other U.S. Government civil agencies, as
well as to customers in selected commercial markets. With approximately
44,000 employees in more than 150 cities worldwide, SAIC engineers and
scientists solve complex technical challenges requiring innovative solutions
for customers' mission-critical functions. 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, 2007 , 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, McLean Laura Luke , McLean
703/676-6762 703/676-6533 [email protected] [email protected]SOURCE SAIC
