SAIC, a leading technology integrator, has announced the completion of the sale of its logistics and supply chain management business to ASRC Federal for $350 million. The sale aligns with SAIC's strategic vision to focus on its core business areas in engineering, technology, and digital solutions.

The logistics and supply chain management business is known for providing end-to-end supply chain solutions, including planning, management, and execution of logistics operations for government and commercial clients. The acquisition of this business by ASRC Federal will enhance its capabilities to provide innovative solutions to its clients in the federal, defense, and commercial markets.

The transaction was completed on May 8, 2023, following regulatory approvals and customary closing conditions. SAIC plans to use the proceeds from the sale to invest in its strategic growth areas and return value to its shareholders. The sale is expected to have no material impact on SAIC's financial results.