science applications inte (SAIC) Key Developments
Science Applications International Corporation Announces Amended & Restated Credit Agreement
Mar 20 15
On March 17, 2015, Science Applications International Corporation entered into an Amended & Restated Credit Agreement, with Citibank, N.A., as agent, and certain other agents, lenders and other parties thereto. SAIC entered into the Amended Credit Agreement to amend and restate SAIC's initial credit facility in anticipation of the proposed acquisition of Scitor Holdings Inc. It is anticipated that, under an Agreement and Plan of Merger dated March 1, 2015, by and among SAIC, Scitor and certain other parties, SAIC will acquire Scitor through a merger of a newly formed SAIC subsidiary into Scitor, with Scitor as the surviving company in the Merger. The Amended Credit Agreement consists of: an unsecured revolving credit facility in an initial aggregate principal amount of up to $200 million and; an unsecured term facility with an initial aggregate principal amount of $500 million each maturing on September 27, 2018. The foregoing initial aggregate principal amounts remain unchanged from the Initial Credit Agreement. Furthermore, the interest rates under the Initial Credit Agreement remain unchanged under the Amended Credit Agreement. The Amended Credit Agreement, among other things, provides for and permits the Merger, the establishment of a senior secured term loan B" credit facility in an aggregate principal amount of up to $670 million, an option to increase the Term Loan A by $100 million prior to the effectiveness of the Term Loan B, and other amendments, including various amendments that will only become effective upon the effectiveness of the Term Loan B. Upon the closing of the Term Loan B, the Credit Facilities will become secured by liens on substantially all of the assets of SAIC and its subsidiaries.
Science Applications International Corp Wins Subcontract to Provide Advisory and Assistance Support Services
Mar 18 15
Constellation West awarded Science Applications International Corp, a subcontract to provide advisory and assistance support services on the U.S. Strategic Command (USSTRATCOM) Systems and Missions Support (USAMS) III program. SAIC's subcontract has a one-year base period of performance, four one-year options, and a total estimated IDIQ contract value of $72 million, if all options are exercised. Work will be performed primarily in Omaha, Nebraska. Under the contract, SAIC will provide advisory and assistance services within three major categories: management, operational and professional support services; studies, analyses, and evaluations; and engineering and technical services. In addition, non-advisory and assistance support services, which primarily consist of operations and maintenance services for information technology and telecom services, may be required.
Science Applications International Corporation (SAIC) Wins Contract from USMC to Upgrade 10 AAV Prototypes
Mar 16 15
Science Applications International Corporation, or SAIC, won contract from the US Marine Corps, or USMC, to perform initial upgrades to 10 assault amphibious vehicle, or AAV, prototypes. This single-award, firm fixed-price contract builds upon SAIC's previously announced initial contract value of $16 million for the engineering phase of the contract. This contract value has been increased by $53 million in options exercised, bringing the total contract value to $69 million. The total contract value, if all options are exercised, is approximately $194 million over five years. The work will be performed primarily in Charleston, South Carolina. Under the contract, SAIC will upgrade AAVs to provide improved protection while gaining back land and water mobility that improves the AAV's ability to fight. Upgrades include armor, engine rebuild to improve horsepower and torque, replace aging transmission, upgrade suspension components, install new water jets, install blast-resistant seats, and upgrade vehicle control, instrumentation and driver interface systems.
Defense Logistics Agency Awards $165 Million Supply Chain Management Contract to Science Applications International Corporation
Mar 12 15
The Defense Logistics Agency (DLA) awarded Science Applications International Corp., an indefinite delivery/indefinite quantity contract to provide tailored logistics support (TLS) for maintenance, repair and operations (MRO) requirements at Department of Defense (DoD) and other federal installations located in Arizona, Nevada, Southern California, and Utah. The single-award, firm-fixed-price contract has a five-year period of performance and an estimated total contract value of $165 million. Under the contract, SAIC will employ commercial business practices to reduce total MRO logistics cost to DLA Troop Support and its customers. SAIC will provide sourcing, procurement, and delivery of MRO supplies and incidental MRO services to DoD and federal entities in the southwest region of the United States. Retail storefront management is also included in SAIC's services.
Science Applications International Corp. Continues Its Support to U.S. Navy's Marine Mammal Systems
Mar 11 15
The Space and Naval Warfare Systems Center (SSC) Pacific awarded Science Applications International Corp. a prime task order to continue to provide training and care for marine mammals participating in the Navy's Marine Mammal Systems based at naval submarine bases in Kings Bay, Georgia; San Diego, California; and Bangor, Washington. This follow-on task order has a one-year base period of performance, four one-year options, and a total contract value of approximately $59 million, if all options are exercised. The U.S. Navy'sMMS rely on dolphins and sea lions to find and mark the location of underwater objects. Under the task order, held for more than 25 years, SAIC provides the necessary personnel, training and continuous education curriculums, and administrative support required to provide support for the care and training to the animals and to operate/maintain MMS. This includes all necessary material and travel required to support the MMS throughout the United States and globally.