The Firm is representing SAIC, Inc. (“SAIC”) in connection with the separation of its technical, engineering and enterprise information technology services business. On September 9, 2013, the Board of Directors of SAIC approved the distribution to its stockholders of all the outstanding shares of SAIC Gemini, Inc., which will hold the spun-off business and be renamed Science Applications International Corporation (“Science Applications”) in connection with the completion of the separation.
SAIC will change its name to Leidos Holdings, Inc. (“Leidos”) in connection with the separation. Leidos and Science Applications shares will each trade on the New York Stock Exchange. As of September 9, 2013, SAIC had a market capitalization of approximately $5 billion, and its revenues for the fiscal year ended January 31, 2013 were approximately $11 billion.
The Simpson Thacher team includes: Gary Sellers, Caroline Gottschalk, Xavier Kowalski, Ravi Purushotham and John Kupiec (Corporate); Gary Mandel, Jonathan Goldstein and Andrew Purcell (Tax); Brian Robbins, David Rubinsky, Paul Koppel and Jeannine McSweeney (Executive Compensation and Employee Benefits); Maia Gez, Jennifer Nadborny and Jennifer Albrecht (Public Company Advisory Practice); Marcela Robledo and Sharo Atmeh (Intellectual Property) and Steve DeLott (Insurance).