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SAIC to acquire software company Koverse

27 Apr 2021 (Last Updated April 27th, 2021 15:20)

Science Applications International (SAIC) has signed a definitive agreement to acquire US-based software company Koverse.

Science Applications International (SAIC) has signed a definitive agreement to acquire US-based software company Koverse.

Founded in 2012, Koverse provides a data management platform powered by multi-level security capabilities for sensitive data.

The platform is built around the Apache Accumulo data system, which was created in 2008 by the US National Security Agency.

Koverse helps overcome challenges in developing AI tools by arranging structured and unstructured data from several sources depending on users’ individual attributes and permissions.

Based in Seattle, the company currently employs 16 people.

The financial terms of the deal have not been disclosed.

SAIC CEO Nazzic Keene said: “I am excited to welcome Koverse to our team. Its impressive track record among its commercial and government customers, coupled with its unique data management platform, makes it a rare gem that enriches our current data modernisation offerings.

“We see many opportunities for Koverse across the federal defence, civilian and intelligence communities. Our companies together bring a passion for service, innovation and integrity that will further drive digital transformation and innovation.”

SAIC will bring Koverse’s expertise and secure platform to customers across the US Government, with the aim of allowing them to manage complex data security requirements while focusing on mission success.

Koverse president and CEO Jon Matsuo said: “This transaction will drive faster innovation and enable organisations to transform how they use complex and sensitive data.

“Joining forces with SAIC creates a direct channel to include Koverse as the underlying data platform in large, important pieces of the emerging defence and national intelligence community mission.”

Earlier this month, SAIC secured a $3.6bn contract from the US Army to provide engineering services in support of hardware-in-the-loop (HWIL) and modelling and simulation development.

The company will provide a range of services, including systems, subsystems, components, software versions and hardware configurations.