Science Applications (SAIC) split into two publicly traded companies : SAIC and LDOS

The original SAIC was created in 1969 by J. Robert Beyster.
On September 27, 2013, SAIC split into two publicly traded companies.

 

• SAIC : The company spun off about a third of its business, which retained its name, forming an approximately $4 billion-per-year service company focused on government services, including systems engineering, technical assistance, financial analysis, and program office support. 
• LDOS: The remaining part became a $7 billion-per-year IT company specializing in technology for the national security, health, and engineering sectors. The parent company changed its name to Leidos (LDOS).

The primary motivation for the spinoff was the conflicts of interest provisions in the Federal Acquisition Regulation which prevented the company from bidding on some new contracts because of existing contracts.