SAIC Signs Agreement to Acquire Applied Marine Technology(SAN DIEGO and MCLEAN, VA) -- Science Applications International Corporation [NYSE: SAI] today announced that it has signed a definitive agreement to acquire Applied Marine Technology, Inc. (AMTI). Based in Virginia Beach, Va., AMTI has expertise in special operations and special mission units and provides a broad range of services, products and expertise to the special warfare community, military, law enforcement, the intelligence community and private industry, including the areas of homeland security and the global war on terrorism. Offerings include training and exercises, systems engineering and integration, information systems and communications, and rapid prototyping of technical solutions and products focused on support to intelligence and special warfare.
"SAIC brings new markets, customers, products and service offerings that, when combined with AMTI's expertise in special operations, homeland security, and in combating the global war on terrorism, will position the team to provide even higher-quality solutions on a larger scale," said Jim Papineau, AMTI's president and chief executive officer. "We believe the combined company will provide AMTI employees with enhanced professional development and career opportunities that would not be available to them without joining our capabilities with SAIC."
The Global Commercial Aircraft Market 2013-2023
"This acquisition integrates AMTI's expertise in intelligence, scientific and custom engineering solutions, prototyping and manufacturing capabilities, and other areas with SAIC's technical and operational presence to support the most challenging missions facing our nation's intelligence, special warfare and homeland security communities," said Lawrence Prior, president of SAIC's Intelligence and Security Group. "We look forward to combining AMTI's capabilities with our offerings and are pleased to welcome AMTI's employees and exceptional leadership team to SAIC."
AMTI employs more than 500 people supporting government and private sector clients in locations across the U.S., including Virginia Beach, Va.; San Diego, Calif.; Fayetteville, N.C.; Charleston, S.C.; Ponca City, Okla.; and Washington, D.C. In addition to its core offerings, AMTI designs, develops, and manufactures communications, information technology, personal protection, and explosive ordnance disposal products.
The acquisition is expected to close in December 2006, subject to customary closing conditions, including expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Terms of the acquisition were not disclosed.
Your company’s press release on ASDNews and to thousands of other journalists and editors? Use our ASDWire press release distribution service.
Source : Science Applications International Corporation