FOR IMMEDIATE RELEASE
February 10, 2004

SAIC Acquires Aquidneck Management Associates, Ltd.

(MCLEAN, VA) – SAIC today announced that it has completed the acquisition of Aquidneck Management Associates, Ltd. (AMA), a Rhode Island-based provider of professional services to defense and state customers.  

AMA will join SAIC’s Naval and Maritime Solutions Business Unit, to become the AMA Operation, based in Newport, R.I.  Terms of the acquisition were not disclosed.

“We are delighted to be joining SAIC,” said Glenn MacNaught, AMA president who will manage the new SAIC operation. “This acquisition can enable us to continue growing business with our primary customer, to reach out to new customers and to provide our employees the benefits of employee ownership.”

AMA was founded in 1981 and has offices in Newport, R.I. and Albany, N.Y.  The company has grown to 275 professionals who provide products and services in the areas of undersea warfare technology development, program management, systems engineering and information technology solutions.

“AMA is an important small business contractor in our marketplace,” said David Stanford, SAIC senior vice president and manager of the Naval and Maritime Solutions Business Unit. “This acquisition can help us strengthen our position as a principal provider of products and services to our customers within our business community.  We look forward to adding AMA’s talented people to our team of dedicated employee owners.”  

Additional Information:

Visit SAIC's Maritime section to learn more about our capabilities in this area.

SAIC is the nation's largest employee-owned research and engineering company, providing information technology, systems integration and eSolutions to commercial and government customers. SAIC engineers and scientists work to solve complex technical problems in national and homeland security, energy, the environment, space, telecommunications, health care and logistics. More information about SAIC can be found at http://www.saic.com/.

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 the Company's Annual Report on Form 10-K for the period ended January 31, 2003, and such other filings that the Company 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.

 

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