Thursday, September 14, 2006

SAIC Makes Another Acquisition

San Diego-based SAIC has made yet another acquisition, saying Wednesday that it has acquired Varec, a provider of measurement, control and automation systems for the oil and gas, defense, and aviation markets. Financial terms of the acquisition were not disclosed. Varec employs more than 125 people in Norcross, Ga. SAIC said that the acquisition would strengthen its position in the fuels industry. The acquisition is the company's third in the last couple of months, and is at least the seventh acquisition by SAIC in the last year.

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