MCLEAN, Va. and SAN DIEGO, Jan. 25 /PRNewswire-FirstCall/ -- Science Applications International Corporation (SAIC) (NYSE: SAI) today announced it has completed the acquisition of Science, Engineering and Technology Associates Corporation (SET), a privately-owned technology corporation headquartered in Arlington, Va.
Founded in 2002 by a group of scientists formerly with the Defense Advanced Research Projects Agency, SET creates and commercializes information technologies -- from video and radar systems that detect human behaviors, to knowledge discovery systems that find patterns in vast quantities of seemingly unrelated data -- to help engineers and analysts accomplish complex tasks. The company serves a diverse base of defense, homeland security, and intelligence community customers. In addition to its headquarters, SET has locations in Dayton, Ohio, Denver, Colo., and Greenbelt, Md.
The acquisition is expected to enhance SAIC's Intelligence, Surveillance and Reconnaissance (ISR) capabilities, including forward processing of sensor data, advanced PED (processing, exploitation, and dissemination) tools and technology, and real time information integration. It will also add multi-sensor exploitation tools for advanced detection, tracking, and target identification to SAIC's portfolio. These tools include SET's CounterBomber® product, which is capable of automatically detecting human-borne suicide bombers at ranges beyond the blast radius of the bomb.
These capabilities are expected to broaden the company's service offerings, accelerate development of sensor-based products, and better enable SAIC to serve key customers with evolving ISR needs. SET's approximately 80 employees will join the Technology and Advanced Systems Business Unit led by John Fratamico.
"This acquisition brings a team of highly talented staff and thought leaders in core domains to SAIC, as well as intellectual property and resources that will enable us to support multiple ISR programs simultaneously," said Fratamico. "It will also significantly increase SAIC's ability to develop and acquire advanced PED solutions to solidify SAIC's position in the market, and broaden our leadership in development of next generation ISR enterprise solutions."
"SET is pleased to join the SAIC team, where our innovative information processing technologies will enable highly capable enterprise solutions for SAIC's expanding ISR markets," said Tom Burns, SET CEO. "This acquisition also provides SET the reach and resources needed to meet the growing international demand for our CounterBomber® product."
Terms of the acquisition 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.