Executive MosaicGovCon Wire publishes a number of stories each week that includes executive appointments, M&A activity and earnings reports at GovCon firms.This week, the biggest news the website covered was the announcement that the board of directors at SAIC have approved the spinoff of Leidos.
SAIC will complete the spinoff of its services business on Sept. 27, after which that business will operate under the name Science Applications.
Leidos Holdings, the other of the two independent companies, will begin trading on the New York Stock Exchange Sept. 30 as will Science Applications.
Tony Moraco, future CEO of Science Applications, said that company will pursue new enterprise IT market opportunities with reduced organizational conflicts of interest.
Each SAIC stockholder will receive one common stock of Science Applications for every seven shares they hold SAIC.
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