MCLEAN, Va., April 3, 2013 /PRNewswire/ -- Science Applications International Corporation (SAIC) (NYSE: SAI) announced today it was awarded a prime contract by the Pension Benefit Guaranty Corporation (PBGC) to provide information technology (IT) and operations support services. The multiple-award, indefinite-delivery/indefinite-quantity (IDIQ) contract has a one-year base period of performance, four one-year options, and a total ceiling value of $140 million for all awardees, if all options are exercised. SAIC was also awarded the first task order under the IDIQ with a one-year base period of performance, four one-year options, and a total contract value of approximately $74 million, if all options are exercised.
PBGC manages retirement incomes for more than 44 million American workers in more than 27,000 private-sector benefit pension plans. Under the contract, SAIC will provide IT and operations support services to modernize, consolidate and simplify PBGC's technical infrastructure to improve performance, cut costs and improve PBGC's security infrastructure.
"We look forward to leveraging our extensive expertise with similar systems to provide PBGC with comprehensive IT and operations support services," said Tom Watson, SAIC senior vice president and business unit general manager. "We put an outstanding team together to tackle this challenge and we look forward to providing effective solutions to PBGC."
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 40,000 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 approximately $11.2 billion for its fiscal year ended January 31, 2013. 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, 2013, 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.