MCLEAN, Va. - Science Applications International Corp (SAIC) has entered into a definitive agreement to acquire intelligence community market leader Scitor Corp. for $790 million in an all cash transaction from private equity firm Leonard Green & Partners. The SAIC Board of Directors has approved the transaction, which is expected to close in May 2015 and is subject to customary closing conditions.
"The acquisition of Scitor unites two great companies with premier workforces making a profound difference for customers," said SAIC CEO Tony Moraco. "Scitor is a recognized market leader with longstanding customer and industry relationships within the intelligence community and is aligned with SAIC's market expansion strategy."
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