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SAIC Wins $727 Million Application Modernization Contract for the Department of Defense

January 09, 2020

RESTON, Va.--(BUSINESS WIRE)-- The U.S. Air Force has awarded the Common Computing Environment (Cloud One) contract to Science Applications International Corp. (NYSE: SAIC). SAIC will migrate approximately 800 Air Force and U.S. Army mission applications into the cloud.

“The Air Force and Army need speed, scale, and security in migrating their mission apps to the cloud,” said Michael LaRouche, executive vice president and general manager of SAIC’s National Security Customer Group. “We leveraged the best of our own proprietary solutions and partners’ technologies to develop a smart migration approach to address the military’s critical needs. We have invested heavily in our IT modernization capabilities, and the opportunity to assist the DOD reinforces the value we deliver to our customers.”

The contract consists of firm fixed price, labor hour, and cost reimbursement elements with a nine-month period of performance and four one-year options. Though awarded by the Air Force, the contract will also serve Army applications, as part of the Army’s cloud strategic framework. SAIC’s solution leverages proven success and capabilities in cloud, IT modernization, software, cyber, and data analytics.

"We help our clients to realize the full potential of the cloud for their applications," said Josh Jackson, executive vice president and general manager of SAIC's Solutions & Technology Group. "We proposed a forward-leaning and comprehensive model for what they want to achieve, remaining focused on the mission while accelerating and simplifying adoption of DOD's cloud computing options and the associated benefits. Our customer-vetted approach provides a fast, affordable, and highly secure migration strategy that protects the current state while accelerating the use of new and emerging technologies."

About SAIC

SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective, and efficient solutions.

We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

Forward-Looking Statements

Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

SAIC Media Contact:
Lauren Presti
703-676-8982
lauren.a.presti@saic.com

Source: Science Applications International Corp.

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