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Thursday, Mar 28, 2024
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Titan Acquires Government Contractor

Titan Corp., the San Diego-based defense contractor specializing in high-tech communications services, signed a definitive agreement to acquire Intelligence Data Systems Inc. of Reston, Va. for $42.5 million in cash.

IDS was identified as a high technology and professional services firm supporting the U.S. intelligence community. The firm had $26.3 million in sales in 2003, and is expected to reach about $40 million this year, said Titan spokesman Wil Williams, who was unable to provide last year’s sales.

Titan said the transaction is expected to close in the second quarter and result in a range of neutral or accretive to its 2005 earnings.

In 2004, Inc. magazine ranked IDS as the third-fastest growing defense contractor in the nation.

Titan had sales last year of about $2 billion, and has about 12,000 employees.

Mike Allen

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