SAIC reconfirms growth strategy in other energy verticals.

Science Applications International Corporation (SAIC) said it has completed the sale of its operations focused on providing specialized information technology (IT) services to oil and gas companies to Wipro Ltd.

The operations sold include SAIC’s US-based oil and gas IT services business, along with subsidiaries located in the United Kingdom (SAIC Ltd.), France (Science Applications International, Europe S.A.R.L.), and India (SAIC India Private Ltd). It is expected that SAIC’s subsidiary in the Middle East (SAIC Gulf LLC) will transfer to Wipro when certain regulatory approvals have been received. As part of the sale, approximately 1,450 employees will join Wipro from SAIC’s Health, Energy, and Civil Solutions Group led by Joe Craver.

“With Wipro, the operations sold will have an owner with a strategic focus in multinational commercial oil and gas IT services and a significant footprint, which will enable them to maximize the value of this profitable business,” said Craver. “SAIC remains committed to our strategic growth areas we have identified in the energy sector, including smart grid, renewable energy implementation, and energy efficiency.”

Source:  www.top-consultant.com

The operations being sold comprise SAIC’s US oil and gas IT services business along with subsidiaries located in the United Kingdom (SAIC Limited), France (Science Applications International, Europe S.A.R.L.), India (SAIC India Private Ltd) and the Middle East (SAIC Gulf LLC), all of which are predominantly focused on the oil and gas market. These operations employ approximately 1,450 persons.

“The sale of these operations will enable SAIC to better focus on our strategic growth areas, including market segments in the energy sector, such as smart grid, renewable energy implementation, and energy efficiency, where we have successfully built our business through organic growth and acquisitions,” said Walt Havenstein, SAIC chief executive officer. “To grow our oil and gas IT services business would have required investments in areas outside our strategic focus, including increasing our off-shore capabilities. Wipro is ideally suited to maximize the value of this profitable business. This transaction will provide the best result for the employees and customers of these operations.”

Joe Craver, president of SAIC’s Health, Energy, and Civil Solutions Group, said, “We’ve consolidated all commercial utility information and technology capabilities together with our capabilities in energy engineering and utility consulting to comprehensively address the increasing technical, regulatory and business challenges associated with improving the security, reliability and efficiency of our nation’s energy delivery systems.”

Source:  Top-Consultant