MCLEAN, Va. and SAN DIEGO, Jan. 5 /PRNewswire-FirstCall/ -- Science Applications International Corporation (SAIC) (NYSE: SAI) announced today that it has completed the acquisition of Spectrum San Diego, a high-technology security firm specializing in ultra-low-dose X-ray scanning systems.
Under the agreement, SAIC acquired Spectrum's CarScan product line, which scans cars and vans in the normal flow of traffic at vehicle checkpoints such as borders and high security government facilities. CarScan's X-ray images enable security personnel to look for weapons, drugs, currency, stowaways, and other hidden contraband. Spectrum's customers include U.S. government, law enforcement and military organizations.
CarScan is designed for high throughput and operational flexibility, minimizing its impact on traffic. In typical operations, the driver and passengers remain inside the vehicle as they drive through the system at a vehicle checkpoint.
Spectrum's CarScan product will be integrated into SAIC's Security and Transportation Technology Business Unit led by Alex Preston. The business unit develops VACIS(®) X-ray and gamma-ray inspection systems, Exploranium(®) radiation-detection systems, and other products for scanning vehicles and cargo containers. CarScan expands SAIC's capabilities for scanning light vehicles.
"We're very pleased to add CarScan to our product portfolio," said Preston, SAIC senior vice president and business unit general manager. "It fits our philosophy of 'security in the flow of commerce.' As we're seeing on our southern border, weapons, drugs, cash and stowaways in light vehicles are a growing challenge. CarScan is a cost-effective way to help stem the tide without slowing traffic."
Prior to the acquisition, Spectrum's other product lines (including CastScope and SentryScope), residual assets and liabilities were transferred to a new company, Tek84 Engineering Group, LLC, owned by Spectrum's former security holders. 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.
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