SAIC Expands Access to Emerging Technologies with Strategic Partnership
RESTON, Va.--(BUSINESS WIRE)--May 28, 2019--
Science Applications International Corp. (NYSE: SAIC) announced today that it has entered into a strategic partnership with Franklin Venture Partners to broaden its access and exposure to emerging technologies developed by startup companies across the United States. Through this new alliance, SAIC will have unique investment opportunities and access to commercial technologies that may directly benefit the company or could be delivered to its government customers.
“Through this new strategic partnership with Franklin Venture Partners, SAIC can deliver complex technical solutions quicker and leverage emerging technologies to solve specific problems for our customers,” said Josh Jackson, executive vice president and general manager of SAIC’s Solutions and Technology Group. “By tapping into the startup ecosystem, SAIC broadens its pool of alliances and resources while enabling government to be more agile in its ability to implement new technologies.”
As a technology integrator, SAIC’s formal relationship with Franklin Venture Partners, a specialized investment team within Franklin Templeton that invests in private investment opportunities, offers additional resources and increased visibility to a network of smaller, innovative companies to bring new technologies to government customers.
SAIC’s agreement with Franklin Venture Partners is the latest among several initiatives to increase its involvement with startup companies and accelerator programs. Recently, SAIC opened a new office space in Austin, Texas as part of the Capital Factory, and joined Techstars Starburst Space Accelerator, a space-focused accelerator program with a U.S. Government and corporate participants. The company also participates in Catalyst Campus, a Colorado-based technology and innovation ecosystem where industry small business, workforce training, entrepreneurs, startups and venture capital intersect with the aerospace and defense industry.
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, 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.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.
About Franklin Venture Partners
Franklin Venture Partners is a specialized investment team within Franklin Templeton, one of the world’s leading asset managers, based in San Mateo, California. Leveraging its Silicon Valley proximity and Franklin Templeton’s 70 years of experience evaluating and managing equity investments of all sizes, Franklin Venture Partners identifies and invests in mid-stage companies it believes are poised for transformative impacts across multiple industries.
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/20190528005290/en/
CONTACT: SAIC Media Contact:
KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT NETWORKS OTHER TECHNOLOGY SECURITY DEFENSE OTHER DEFENSE
SOURCE: Science Applications International Corp.
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PUB: 05/28/2019 07:30 AM/DISC: 05/28/2019 07:31 AM