Home / M&A Activity / SAIC Keeping Name For Planned IT, Services Company; Stu Shea, Tony Moraco Comment

SAIC Keeping Name For Planned IT, Services Company; Stu Shea, Tony Moraco Comment

Stu Shea - SAIC, ExecutiveMosaicThe other business focused in national security, health and engineering will take on the name “Leidos, ” intended to reflect how the company brings together ideas from different angles and representing a kaleidoscope, SAIC said Monday.

Tony Moraco will serve as CEO of SAIC and John Jumper will lead Leidos as chairman and chief executive.

Stu Shea, SAIC chief operating officer, will serve as COO at Leidos.

Pending final approval from the SAIC board of directors, the separation is set to occur in the second half of the company’s current fiscal year.

“It’s a memorable word with dynamic connotations that capture the energy, talent and passion that our employees bring as they work to deliver solutions that protect our nation, our communities, Moraco_Tony_smalland our families, ” Shea said of the Leidos name.

Moraco said SAIC has provided customers technical services and enterprise IT support for more than 44 years.

“We will be going to the marketplace with both a current success story and the beginning of a new era, ” he added.

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