The company was once known as the Science Applications International Corporation or SAIC. It was not until September 27, 2013 that it adopted its current branding together with the spin off it made on its $4 billion government services and Information Technology company. The business that got spun off retained the name Science Applications International Corporation. Before the split, the business was reported to have generated a revenue totaling to $11.7 billion making it to the 240th business as listed on the Fortune 500. After the split, the business is now generating a revenue of $6 billion with 23,000 employees.
It was in 1969 that Dr. J. Robert Beyster together with a group of scientist who founded the business that would soon become Leidos. The business’ first and long term client was the Defense Nuclear Agency. Their health business arm was founded on the study of radiation based cancer therapy for the Los Alamos National Laboratory. That year was 1970 and by then the company was generating a revenue of $243,000 with just 20 employees.
When the business was initially offered to the public, it raised $1.234 billion with 86,250,000 common stocks that were valued at $15 per share. It was in 2006 that they offered their stocks to the public on the New York Stock Exchange. In 2003, the business became the 9th largest defense contractor in the United States after it transacted business with the United States Department of Defense for $2.6 billion. They also partnered with FBI on the unsuccessful Virtual Case File Project.