MCLEAN, Va. and SAN DIEGO, Feb. 1 /PRNewswire-FirstCall/ -- Science Applications International Corporation (SAIC) (NYSE: SAI) today announced it has purchased Forterra Systems Inc.'s On-Line Interactive Virtual Environment (OLIVE(TM)) product line, including all names, trademarks and licenses.
OLIVE is a market leading software platform that enables customers to deploy their own persistent and secure 3D Virtual Worlds where users can collaborate over networks. OLIVE's real-time virtual world technology enables interpersonal interaction through life-like human avatars. These avatars are three dimensional virtual representations that provide a human-machine interface for networked computers, enabling remote users to experience, collaborate, train, and learn. The platform currently supports virtual world implementations in healthcare, financial services, energy, transportation, retail, government, and higher education markets. OLIVE adds a branded platform to SAIC's simulation portfolio, and enhances the company's offerings to an expanding simulation marketplace.
"We look forward to working with current and future OLIVE license holders to support and extend the platform," said Bev Seay, SAIC senior vice president and business unit general manager. "We see virtual worlds as the direction of the future in modeling and simulation – emphasis on interpersonal interaction and collaboration enables us to take our products in new directions, and to new markets."
Approximately 12 employees will join SAIC from Forterra, and will become part of SAIC's Analysis, Simulations, Systems Engineering & Training Business Unit led by Seay. These employees will continue to support the OLIVE platform from locations in San Mateo, Calif., and Orlando, Fla.
"This deal will enable us to continue building the OLIVE platform and our related business, as well as shape the future market of virtual world products and services," said John Burwell, Forterra Systems vice president. "SAIC, which provides innovative applications of technology and expertise to solve customer problems, is an ideal fit. Well positioned in the public sector and select commercial markets, SAIC has the resources and channels to take OLIVE to the next level."
Terms of the purchase were not disclosed.
SAIC is a FORTUNE 500® scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The company's approximately 45,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. Headquartered in McLean, Va., SAIC had annual revenues of $10.1 billion for its fiscal year ended January 31, 2009. For more information, visit www.saic.com. SAIC: From Science to Solutions®
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2009, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.