SAIC, Inc. (NYSE:SAI) is up almost 4.5% today to $12.34 in response to the company’s announcement that it will split into two public companies. SAIC, Inc. (NYSE:SAI) is a major IT contractor to government agencies such as the Department of Defense and intelligence agencies.
According to the press release, the intention is spin off government technical services and enterprise information technology into a newly-formed company, whose 100% shares would be issued to SAIC shareholders in the form of a tax-free spin-off.
The company strategy is outlined below in the words of John Jumper, chairman and chief executive officer :
"In this next step of our strategic plan we configure ourselves for the future. Our two new companies will be designed so that their...
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