MCLEAN, Va. and SAN DIEGO, Jan. 14 /PRNewswire-FirstCall/ -- Science Applications International Corporation (SAIC) (NYSE: SAI) today announced it has signed a definitive agreement to acquire CloudShield Technologies, Inc., a leading cybersecurity and management solutions provider. CloudShield is headquartered in Sunnyvale, Calif.
Founded in 2000, CloudShield provides services management and infrastructure security solutions to service providers and national governments worldwide. The company's deep packet inspection (DPI) platform and applications enable customers to inspect, analyze and control all network traffic, helping lower costs, secure infrastructure and generate new revenue streams. The platform consists of computer hardware, secure operating systems, application development environments; and numerous deployed applications.
The acquisition will enhance SAIC's cybersecurity offering, and help the company bring to market DPI solutions for high speed networks, enabling it to meet emerging customer requirements in U.S. federal government and commercial markets. CloudShield will join SAIC's Intelligence and Information Solutions Business Unit, part of SAIC's Intelligence, Security and Technology Group led by Stu Shea.
"We are pleased to welcome CloudShield to SAIC and our cyber team," said Shea. "This acquisition is an integral component of our enterprise cyber strategy and provides us with technology to help build a solid foundation for the development of solution-focused applications."
"As the technological landscape becomes more complex, our customers need to identify new ways to manage high-bandwidth IP-based data services. The increasing demands of file sharing, steaming videos and other services on existing infrastructure are driving the sales of our solutions," said Matt Jones, CEO of CloudShield. "We are pleased to become a part of SAIC, combining technologies, services and expertise that will enable us to develop more robust solutions for current and future customers."
The acquisition is expected to close by mid-February 2010, subject to customary closing conditions, including expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. 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.