DCF Advises on the Sale of Middle-Market Defense Contractor
Icon Systems Acquired by SAIC
Deloitte Corporate Finance LLC (DCF) is pleased to announce its role as exclusive financial advisor to Icon Systems, Inc. (Icon) in its sale to Science Applications International Corporation (SAIC) for $135 million.
The DCF team assisted Icon’s management in navigating the transaction from the initial development of marketing materials and identification of potentially interested parties to organizing the due diligence process and advising on transaction negotiations.
This transaction further highlights DCF’s experience in and focus on the Aerospace and Defense industry.
About Icon Systems and SAIC
Headquartered in San Diego with more than 100 employees, Icon is a recognized leader in the design, development and production of state-of-the-art laser-based systems and products for military training and testing.
Icon's capabilities include expertise in Multiple Integrated Laser Engagement System (MILES) compatible Tactical Engagement Simulation Systems (TESS) for individual combatant and platform live training. Icon has transformed the live training industry by successfully fielding an advanced wireless system for laser-based tactical training, substantially reducing the life-cycle logistics cost for these systems.
With approximately 44,000 employees and annual revenues of $8.3 billion for its fiscal year ended January 31, 2007, SAIC is a leading provider of scientific, engineering, systems integration and technical services and solutions to all branches of the U.S. military, agencies of the Department of Defense, the intelligence community, the U.S. Department of Homeland Security and other U.S. Government civil agencies, as well as to customers in selected commercial markets.