SCIENCE APPLICATIONS INTERNATIONAL CORP. ACQUIRES GENERAL SCIENCES CORP.
SCIENCE APPLICATIONS INTERNATIONAL CORP. ACQUIRES GENERAL SCIENCES CORP. SAN DIEGO, July 2 /PRNewswire/ -- Science Applications International Corp. (SAIC) announced that it has acquired General Sciences Corp. (GSC) (NASDAQ: GSCX), which will provide a significantly increased capability in supporting the U.S. Global Change Research Initiative. SAIC, a large high-technology company, has substantial business in global change research. The GSC acquisition adds strength to SAIC's existing federal client base, particularly in NASA and NOAA, as well as a commercial/international product: METPRO, a professional meteorological information processing system. "This acquisition is an extension of our capabilities to address global change research. GSC has a strong capability in meteorology, data systems, atmospheric sciences and modeling," said SAIC Corporate Vice President Neil Hutchinson. "The combined earth and space sciences expertise of the two companies will position SAIC as a leader in these critical fields." When the acquisition is finalized July 31, 1992, GSC will become a wholly owned subsidiary. The transaction is subject to satisfying certain conditions, including a due diligence review by SAIC. GSC, based in Laurel, Md., provides scientific research and application system development services in the areas of global change, the Earth Observing System (EOS), astronomy, meteorological and oceanographic research and information analysis and global circulation modeling. The company reported revenues of about $15.4 million for the year ending in July 1991. SAIC, based in San Diego, provides diversified professional and technical services and products to government, the private sector and internationally. With more than 14,000 employees worldwide, SAIC reported revenues of about $1.3 billion for the year ending Jan. 31, 1992. It is one of the largest employee-owned companies in the United States. -0- 7/2/92 /CONTACT: Neil Hutchinson, corporate VP of SAIC, 619-458-4977/ (GSCX) CO: Science Applications International Corp.; General Sciences Corp. ST: California IN: CPR SU: TNM
CH -- SD004 -- 6263 07/02/92 15:09 EDT
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|Date:||Jul 2, 1992|
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