SAIC eyes AI and digital portfolio boost through $205M acquisition

Science Applications International Corp. is buying a defense and national security technology company with expertise in digital transformation, artificial intelligence, and data analytics.

SAIC is paying $205 million in cash for SilverEdge, a company owned by the private equity firm Godspeed Capital. All parties involved expect the transaction to close before the end of SAIC’s fiscal third quarter on Oct. 31.

SilverEdge will with it a software-as-a-service product known as SOAR, a platform for rapid prototyping, and a MynAI, an agentic AI product designed for secure government and highly regulated environments.

“These transformative solutions provide agility and speed while minimizing risk to customers,” SAIC said in its Monday announcement.

SAIC is undertaking this acquisition as part of its strategy to bring mission-focused, intellectual property-based solutions and commercial products to customers.

“SilverEdge’s people, culture, and innovative approach have driven impressive growth,” SAIC's CEO Toni Townes-Whitley said in a release. “They share our commitment to advancing national security missions with speed, and together, we will deliver an expanded suite of products and commercial technologies to help the Department of (Defense) and intelligence community achieve their most critical objectives.”

Godspeed launched SilverEdge in 2022 through a combination of three portfolio companies – Savli Group, Varen technologies and Exceptional Software Strategies.

SilverEdge went on to acquire three more companies, including two in Counter Threat Solutions and QVine that were bought in October 2022. Then in May 2023, SilverEdge acquired Gardetto Engineering.

This is SAIC’s first acquisition since 2021 when it spent $250 million to buy Halfaker & Associates.

In 2023, SAIC divested a logistics and supply chain business to ASRC Federal for $350 million.