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.
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