Titan Acquires BTG

Titan Corp. is acquiring government solutions and services provider BTG Inc. in a $141.9 million deal designed to strengthen Titan's presence in the defense and intelligence markets. Titan is paying about $114.9 million in stock and $27 million in cash.

The acquisition expands Titan's capabilities with defense and intelligence customers. The acquisition, which includes the assumption of approximately $32 million in debt, is expected to close by the end of this year.

BTG's approximately 2,000 employees will come under Titan Systems, the company's government information technology subsidiary. BTG will operate as a wholly owned subsidiary. With the acquisition of BTG, Titan Systems will have nearly $1.3 billion in revenue next year, including approximately $1 billion from government IT services, said Gene Ray, chairman, president and chief executive officer of Titan.