SAIC Awarded Blanket Purchase Agreement to Provide Systems Evaluation for TSA Screening Equipment

Rhea-AI Summary

Science Applications International Corp. (NYSE: SAIC) has secured a $150 million blanket purchase agreement with the Transportation Security Administration (TSA) to conduct operational testing and evaluation of airport screening equipment. This agreement allows SAIC to provide essential support in validating the effectiveness and cyber resilience of TSA systems, ensuring the safety of U.S. air travel. The company, with annual revenues of approximately $7.4 billion, emphasizes its commitment to enhancing airport security through innovative technology.

Positive

• Awarded a $150 million blanket purchase agreement by TSA.
• Continues support for essential airport screening equipment.
• Validates operational effectiveness and cyber resilience of TSA systems.

Negative

• None.

Company will perform operational testing and evaluation for TSA systems

RESTON, Va.--(BUSINESS WIRE)-- Science Applications International Corp. (NYSE: SAIC) has been awarded a blanket purchase agreement by the Transportation Security Administration (TSA) with an estimated value of $150 million, to continue performing operational testing and evaluation of TSA airport screening equipment and non-screening systems.

“We continue to use our technology to support TSA’s mission of securing people and commerce in our nation’s airports,” said Bob Genter, president, Defense and Civilian Sector at SAIC. “SAIC’s cost-effective system evaluation capabilities support essential airport screening equipment used every day to protect travelers in the U.S., as well as non-screening systems that support critical DHS and TSA operations.”

Under this agreement, SAIC will provide test planning, execution, data analysis and evaluation of passenger and baggage screening equipment. Additionally, this blanket purchase agreement will ensure TSA continues to receive the critical support needed to validate the operational effectiveness, suitability and cyber resilience of systems used to protect the nation’s transportation of people and cargo.

About SAIC
SAIC^® is a premier Fortune 500® technology integrator driving our nation’s technology transformation. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective and efficient solutions that are critical to achieving our customers' missions.

We are approximately 26,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion, which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.4 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

Forward-Looking Statements
Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221215005018/en/

Media:

Thais Hanson

703.676.8215 | thais.c.hanson@saic.com

Source: Science Applications International Corp.

FAQ

What is the value of the agreement awarded to SAIC by TSA?

The agreement is valued at $150 million.

What services will SAIC provide under the TSA agreement?

SAIC will provide test planning, execution, data analysis, and evaluation of airport screening equipment.

How does this agreement impact SAIC's business?

The agreement enhances SAIC's role in airport security and contributes to its revenue.

Where is Science Applications International Corp. headquartered?

SAIC is headquartered in Reston, Virginia.

What are the annual revenues of SAIC?

SAIC has annual revenues of approximately $7.4 billion.