SAIC, BAE Systems win Marines contract for amphibious vehicle prototypes

• The Marine Corps has given contracts for a first phase of a wheeled amphibious combat vehicle to Science Applications International (NYSE:SAIC) and to BAE Systems (OTCPK:BAESY).
• SAIC gets a contract for 13 vehicles valued at more than $121M, while BAE got a pact for 13 vehicles at almost $104M. The two beat out Lockheed Martin (NYSE:LMT), General Dynamics (NYSE:GD) and Advanced Defense Vehicle Systems.
• Lockheed Martin might protest the decision.
• The first phase of the vehicle is known as ACV 1.1, and it's eventually planned to be a modest replacement for a canceled program -- the Expeditionary Fighting Vehicle that General Dynamics was developing. The Marines had started a competition for the vehicle last year.