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Friday, Feb 3, 2023
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SAIC to Buy Homegrown Defense Firm

SAIC said March 10 that it has agreed to buy Icon Systems Inc., a San Diego company specializing in laser-based systems for military training. Terms of the deal were not disclosed.

Icon has more than 100 employees. Himanshu Parikh, Icon’s co-founder and chief executive, will continue to lead the company.

Also known as Science Applications International Corp., SAIC says it expects the deal to close in April.

SAIC is a Fortune 500 corporation with 44,000 employees. Its New York Stock Exchange-traded shares closed March 10 at $18.65, down 35 cents from the previous trading day. The company ticker symbol is SAI.

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, Brad Graves

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