Science Applications International Corp. will be splitting off into two publicly traded companies, according to a statement SAIC released.
One of the new companies will focus on government technical services and information technology, while the other will target what SAIC called “high-growth markets” in national security, engineering and health. The company expects the technical services business to bring in revenues of approximately $4 billion dollars in 2013, whereas revenues estimates for the solutions business stand at $7 billion.
“Our two new companies will be designed so that their businesses can be more differentiated and more competitive in their own space,” SAIC Chairman and CEO John Jumper said. “More importantly, that addressable space will expand for each as we eliminate the burden of organizational conflicts of interest.”