SAIC strips away its oil and gas IT businesses

Sale will allow company to improve focus on strategic growth areas

Science Applications International Corp. will become a more narrowly focused company once it completes the sale of its specialized oil and gas industry IT services to Wipro Ltd., the company announced today.

Financial terms of the planned sale were not reported.

The operations being sold comprise SAIC's U.S. oil and gas IT services business along with subsidiaries SAIC Ltd., of the United Kingdom; Science Applications International, Europe S.A.R.L., of France; SAIC India Private Ltd., of India; and its Middle East operation, SAIC Gulf LLC.

Together they employ approximately 1,450 people, the SAIC announcement states.

"The sale of these operations will enable SAIC to better focus on our strategic growth areas, including market segments in the energy sector, such as smart grid, renewable energy implementation, and energy efficiency, where we have successfully built our business through organic growth and acquisitions," said Walt Havenstein, SAIC's CEO, in the announcement.

He said it would have required investments in areas outside the company’s strategic focus, including increasing SAIC's offshore capabilities, to grow the oil and gas IT services business.

"Wipro is ideally suited to maximize the value of this profitable business," Havenstein said. "This transaction will provide the best result for the employees and customers of these operations."

SAIC International, of McLean, Va., ranks No. 5 on Washington Technology’s 2010 Top 100 list of the largest federal government contractors.

About the Author

David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • POWER TRAINING: How to engage your customers

    Don't miss our Aug. 2 Washington Technology Power Training session on Mastering Stakeholder Engagement, where you'll learned the critical skills you need to more fully connect with your customers and win more business. Read More

  • PROJECT 38 PODCAST

    In our latest Project 38 Podcast, editor Nick Wakeman interviews Tom Romeo, the leader of Maximus Federal about how it has zoomed up the 2019 Top 100. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.