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SAIC spinoff to be headquartered in Reston, Va.

MCLEAN, Va. (AP) -- SAIC said Monday that its planned spinoff will be headquartered in Reston, Va.

SAIC Inc. plans to split into two separate companies later this year. Science Applications International Corp. will handle information technology and other services and remain headquartered in McLean, Va. The spinoff, Leidos Holdings Inc., which will be based in Reston, will concentrate on national security, engineering and other work.

Approximately 150 employees will immediately start working in Reston, with another 450 employees moving to the facility over time.

SAIC Chief Operating Officer Stu Shea, who will become the president and COO of Leidos, said in a statement that Reston was chosen for Leidos' headquarters after taking into account where its workers live and where key customers are located.

Shares of SAIC gained 10 cents to $15.92 in afternoon trading.