SAIC Signs Agreement to Acquire R.W. Beck, Inc.

Mon Jul 6, 2009 7:50am EDT
 
[-] Text [+]
SAN DIEGO, SEATTLE and MCLEAN, Va., July 6 /PRNewswire-FirstCall/ -- Science
Applications International Corporation (NYSE: SAI) announced today that it has
signed a definitive agreement to acquire R.W. Beck Group, Inc., a leading
provider of business and technical consulting services in engineering, energy
and infrastructure.  R.W. Beck is  headquartered in Seattle, Wash.

Founded in 1942, R. W. Beck serves public and private infrastructure
organizations and financiers in the energy, water, wastewater and solid waste
industries.  The company's 550 technically-based business consultants --
including engineers, economists, analysts and other professionals -- develop
sustainable solutions specific to customers' engineering, economic, planning,
operational and organizational challenges. R.W. Beck's customers include
utility organizations, government entities, financial institutions and other
commercial customers.

The definitive agreement includes SAIC's acquisition of Beck Disaster Recovery
(BDR), Inc., one of the nation's premier emergency management consultancies. 
R. W. Beck is the majority owner of BDR. The company provides all hazards
mitigation, preparedness/planning, response, recovery and reconstruction
services; continuity and emergency operations planning; risk management and
mitigation; and training services to local and state government agencies
nationwide. 

"With the development and rehabilitation of many aspects of our nation's
infrastructure becoming increasingly critical, and the ongoing threat of
natural and man-made disasters, both SAIC and R. W. Beck leadership believe
that combining the capabilities of the two companies will produce results of
significant benefit to our clients and overall business," said Russ Stepp,
president and chief executive officer of R.W. Beck. "The leading-edge
technologies, services and expertise we bring will enable the development of
more robust solutions for current and future clients." 

R.W. Beck will join SAIC's Infrastructure, Logistics and Product Solutions
Group led by Group President Joe Craver.  The Group, one of four at SAIC,
provides technical and engineering solutions for a variety of customers and
mission areas including all hazards preparedness and logistics; energy
management services; and environmental support. R.W. Beck's core consulting
and engineering organization will join the Group's Energy, Environment, and
Infrastructure business unit led by J.T. Grumski to combine synergies in
environmental services, including water, wastewater, and solid waste
management; energy management and grid technology; infrastructure planning and
design-build; and capital program management.  BDR will join the Homeland
Protection and Preparedness business unit led by John Ferriter to create a
comprehensive offering of preparedness, emergency response, training, and
disaster recovery for federal and municipal customers.

"With more than 65 years of business success and technical leadership, R.W.
Beck's expertise aligns well with that of SAIC, and will enable us to increase
our footprint in the energy and all hazards preparedness markets, and offer
enhanced capabilities, particularly in business and technical consulting, in
high growth areas," said Craver. "Our customer sets are complementary,
offering potential to cross-sell our services across a broad base of
commercial, municipal, and federal customers. The company has a record of
delivering outstanding customer value, organic growth, and profitability. Just
as important, both SAIC and R.W. Beck share a deep commitment to our
employees."

The acquisition is expected to close at the beginning of August 2009, subject
to R. W. Beck shareholder approval and customary closing conditions, including
expiration or early termination of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act. 

About SAIC
SAIC is a FORTUNE 500(R) scientific, engineering, and technology applications
company that uses its deep domain knowledge to solve problems of vital
importance to the nation and the world, in national security, energy and the
environment, critical infrastructure, and health.  The company's approximately
45,000 employees serve customers in the U.S. Department of Defense, the
intelligence community, the U.S. Department of Homeland Security, other U.S.
Government civil agencies and selected commercial markets.  SAIC had annual
revenues of $10.1 billion for its fiscal year ended January 31, 2009.  For
more information, visit www.saic.com.  

SAIC:  From Science to Solutions(R)

Statements in this announcement, other than historical data and information,
constitute forward-looking statements that involve risks and uncertainties. A
number of factors could cause our actual results, performance, achievements,
or industry results to be very different from the results, performance, or
achievements expressed or implied by such forward-looking statements. Some of
these factors include, but are not limited to, the risk factors set forth in
SAIC's Annual Report on Form 10-K for the period ended January 31, 2009, and
other such filings that SAIC makes with the SEC from time to time. Due to such
uncertainties and risks, readers are cautioned not to place undue reliance on
such forward-looking statements, which speak only as of the date hereof.

    Contact: Melissa Koskovich                 Laura Luke
             (703) 676-6762                    (703) 676-6533
             melissa.l.koskovich@saic.com      laura.luke@saic.com



SOURCE  SAIC

Melissa Koskovich, +1-703-676-6762, melissa.l.koskovich@saic.com, or, Laura
Luke, +1-703-676-6533, laura.luke@saic.com, both of SAIC

 

Featured Broker sponsored link

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video