SAIC in Venezuelan Venture

Science Applications International Corp. said it has created an information technology company with state oil company Petroleos de Venezuela, also known as PDVSA. San Diego-based SAIC, which is employee-owned, said the investment is its largest in Latin America. SAIC holds 60% of the joint venture, named Intesa, and PDVSA holds the other 40%. PDVSA declined to disclose the capitalization of the new company, which began operations Jan. 2. Executives said last year that the value of PDVSA’s stake could be worth several hundred million dollars. Intesa will initially handle all of PDVSA’s information technology needs.