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United States : SCIENCE APPLICATIONS INTERNATIONAL CORP plans to break up into two units.

Science Applications International Corp (SAIC) declared that it has decided to divide into two independent companies.

Through this separation, the company will be able to bid for up to 700 contracts in 78 major U.S. Department of Defense contracts totaling $37 billion, which it cannot do now owing to conflict-of-interest regulations.

According to SAIC, one of the two units will be aimed on government technical services and enterprise IT business, while the other one will offer science and technology services for national security, engineering and health markets.

Regulations forbid a company from being a program manager on behalf of the U.S. government to appoint contractors for a project, and also bid for the same contract.

It is estimated that the company separation will be held in the form of a tax-free spinoff in the second half of 2013.

Science Applications International Corp (SAIC) is a provider of a wide range of IT services to the United States Department of Defense, the intelligence community, and to federal and state government agencies.

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Publication:Mena Report
Date:Sep 3, 2012
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