SAIC to pursue bolder acquisition strategy, sell off a portion of its business
Company to divest oil, gas IT services
- By Washington Technology staff
- Mar 28, 2011
During a call with investors, Science Applications
International Corp. revealed that it will sell part of its commercial business
units with the goal of stepping up its acquisition growth strategy, according to
a Capital Business report in the Washington Post.
In particular, CEO Walter Havenstein told the Post in last
week’s call that the company will divest its oil and gas IT services businesses
because their cultivation “would have required substantial investment in
management time and attention in areas outside our strategic growth areas.”
The portion of the company to be sold off, which will not
include any domestic utilities areas, brings in about $200 million in revenue,
said SAIC Chief Financial Officer Mark Sopp.