SAIC Purchases Simulation & Collaboration Product Line From Forterra Systems Inc.
February 01 2010 - 7:05AM
PR Newswire (US)
Company Adds On-Line Interactive Virtual Environment (OLIVE(TM)) to
its Simulation Portfolio MCLEAN, Va. and SAN DIEGO, Feb. 1
/PRNewswire-FirstCall/ -- Science Applications International
Corporation (SAIC) (NYSE:SAI) today announced it has purchased
Forterra Systems Inc.'s On-Line Interactive Virtual Environment
(OLIVE(TM)) product line, including all names, trademarks and
licenses. OLIVE is a market leading software platform that enables
customers to deploy their own persistent and secure 3D Virtual
Worlds where users can collaborate over networks. OLIVE's real-time
virtual world technology enables interpersonal interaction through
life-like human avatars. These avatars are three dimensional
virtual representations that provide a human-machine interface for
networked computers, enabling remote users to experience,
collaborate, train, and learn. The platform currently supports
virtual world implementations in healthcare, financial services,
energy, transportation, retail, government, and higher education
markets. OLIVE adds a branded platform to SAIC's simulation
portfolio, and enhances the company's offerings to an expanding
simulation marketplace. "We look forward to working with current
and future OLIVE license holders to support and extend the
platform," said Bev Seay, SAIC senior vice president and business
unit general manager. "We see virtual worlds as the direction of
the future in modeling and simulation - emphasis on interpersonal
interaction and collaboration enables us to take our products in
new directions, and to new markets." Approximately 12 employees
will join SAIC from Forterra, and will become part of SAIC's
Analysis, Simulations, Systems Engineering & Training Business
Unit led by Seay. These employees will continue to support the
OLIVE platform from locations in San Mateo, Calif., and Orlando,
Fla. "This deal will enable us to continue building the OLIVE
platform and our related business, as well as shape the future
market of virtual world products and services," said John Burwell,
Forterra Systems vice president. "SAIC, which provides innovative
applications of technology and expertise to solve customer
problems, is an ideal fit. Well positioned in the public sector and
select commercial markets, SAIC has the resources and channels to
take OLIVE to the next level." Terms of the purchase were not
disclosed. About SAIC SAIC is a FORTUNE 500® scientific,
engineering, and technology applications company that uses its deep
domain knowledge to solve problems of vital importance to the
nation and the world, in national security, energy and the
environment, critical infrastructure, and health. The company's
approximately 45,000 employees serve customers in the U.S.
Department of Defense, the intelligence community, the U.S.
Department of Homeland Security, other U.S. Government civil
agencies and selected commercial markets. Headquartered in McLean,
Va., SAIC had annual revenues of $10.1 billion for its fiscal year
ended January 31, 2009. For more information, visit
http://www.saic.com/. SAIC: From Science to Solutions® Statements
in this announcement, other than historical data and information,
constitute forward-looking statements that involve risks and
uncertainties. A number of factors could cause our actual results,
performance, achievements, or industry results to be very different
from the results, performance, or achievements expressed or implied
by such forward-looking statements. Some of these factors include,
but are not limited to, the risk factors set forth in SAIC's Annual
Report on Form 10-K for the period ended January 31, 2009, and
other such filings that SAIC makes with the SEC from time to time.
Due to such uncertainties and risks, readers are cautioned not to
place undue reliance on such forward-looking statements, which
speak only as of the date hereof. Contact: Melissa Koskovich Laura
Luke (703) 676-6762 (703) 676-6533 DATASOURCE: SAIC CONTACT:
Melissa Koskovich, +1-703-676-6762, , or Laura Luke,
+1-703-676-6533, , both of SAIC Web Site: http://www.saic.com/
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