SAIC concludes divestiture of energy IT services companies
Science Applications International Corp. has completed the sale of its operations focused on providing specialized IT services to oil and gas companies to Wipro Ltd., of India.
Science Applications International Corp. has completed the sale of its operations focused on providing specialized IT services to oil and gas companies to Wipro Ltd., the company announced June 13.
Financial terms of the deal, which was announced on April 1, were not disclosed.
The operations sold include SAIC's U.S.-based oil and gas IT services business, along with subsidiaries located in the United Kingdom (SAIC Ltd.), France (Science Applications International, Europe S.A.R.L.), and India (SAIC India Private Ltd).
It is expected that SAIC's subsidiary in the Middle East (SAIC Gulf LLC) will transfer to Wipro when certain regulatory approvals have been received, the announcement said.
As part of the sale, approximately 1,450 employees will join India-based Wipro from SAIC's Health, Energy, and Civil Solutions Group led by Joe Craver.
"With Wipro, the operations sold will have an owner with a strategic focus in multinational commercial oil and gas IT services and a significant off-shore footprint, which will enable them to maximize the value of this profitable business," Craver said in the announcement.
SAIC, of McLean, Va., ranks No. 6 on Washington Technology’s 2011 Top 100 list of the largest federal government contractors.