The company told its 42,000 staff in a memo that it was considering different ways of raising cash, and that a public listing was one of them. Others mentioned were increasing debt, increasing sale of shares to employees and a limited placement of shares to private investors. The memo from Ken Dahlberg, SAIC’s chairman and CEO, said that it needed to raise money for acquisitions.
Completing strategic acquistions will be increasingly important to our company’s future as our competition consolidates into fewer and more formidable companies, more aggressively targeting out market space, he said.
The possibility of an IPO comes just after the San Diego, California-based company announced a fall in operating income for its first quarter to $112m from $120m in the year ago quarter, from sales up 8% to $1.8bn.
The dip in profits was mainly down to an increased loss on its contract with the Greek government, and increased investment infrastructure.
