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1 min read energy

SAIC sells oil/gas IT services to focus on smart grid

Science Applications International Corporation (SAIC) has reached an agreement to sell to Wipro Ltd. certain SAIC operations focused on providing specialised IT services to oil and gas companies.

The operations being sold comprise SAIC’s US oil and gas IT services business along with subsidiaries located in the UK, France, India and the Middle East, all of which are predominantly focused on the oil and gas market.

“The sale of these operations will enable SAIC to better focus on our strategic growth areas, including market segments in the energy sector, such as smart grid, renewable energy implementation, and energy efficiency, where we have successfully built our business through organic growth and acquisitions,” said Walt Havenstein, CEO of SAIC. “To grow our oil and gas IT services business would have required investments in areas outside our strategic focus, including increasing our off-shore capabilities. Wipro is ideally suited to maximise the value of this profitable business.”

Read more here …

Published by:

Dan Ilett

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