SAIC CEO: Acquisitions are 'not top of mind'

Tony Moraco, chief executive of Science Applications International Corp., said today the company is "not a high-volume acquirer" and is not making acquisitions a priority.

Speaking at the Cowen & Co. conference in New York, Moraco responded to questions about Leidos, which was split off from SAIC in 2013. Earlier this month, Leidos announced it would combine with Lockheed Martin's IT services business to create a $10 billion services company.

That move does not significantly change the market, Moraco said, noting that SAIC is still competing against many of the same players.

"We compete at the program level," Moraco said. "Overall, I don't think the competitive landscape shifts dramatically."

He said SAIC's acquisition of Scitor last year filled a gap in reaching certain customers, and the contractor is not actively pursuing new acquisitions.

If SAIC does purchase a business, "it'll be principally around a market access point," Moraco said. But M&A "is not top-of-mind nor a priority."