Science Applications International Corp.'s $473 million acquisition of maxIT Healthcare Holdings Inc. will more than double the company's commercial health care business and make good on a two-year strategy to expand SAIC's presence in that market, company executives told Washington Business Journal Wednesday.
The deal, announced Tuesday evening and expected to close in August, will create a health care business worth just north of $850 million and add about 1,300 employees to the SAIC workforce. Westfield, Ind.-based maxIT will function as a wholly owned subsidiary, with no layoffs planned and additional hires anticipated.