Titan to buy Science & Engineering Associates

Titan Corp. of San Diego announced Feb. 25 it will acquire Science & Engineering Associates Inc., a privately held Albuquerque, N.M., provider of engineering and information technology services and specialized laser, sensor, and imaging products to the government.

Titan will buy SEA for about $72 million in Titan common stock. The transaction, which should close in the second quarter of 2002, will add approximately $45 million to $50 million to Titan's 2002 revenues, according to Titan.

The acquisition solidifies Titan's position as one of the prime consolidators in the government information technology market, said Eric DeMarco, executive vice president and chief operating officer of Titan. SEA brings to Titan a mix of time and materials and cost-plus-fixed-fee contracts with customers such as the U.S. Air Force, Army, Navy and the Nuclear Regulatory Commission.

Titan creates, builds and launches technology-based businesses, providing information systems solutions and services to the Department of Defense and intelligence agencies. The company has 10,000 employees and annual sales of about $1.3 billion.

SEA was founded in 1980 as a defense research and development contractor specializing in weapons effects studies. Today its services include research and development, modeling and simulation, systems integration, information technology solutions development and custom software design. Its key products include specialized imaging, sensor, and laser products for force protection, security and environmental remediation. The company employs 350 and manages a subcontractor staff of 200. Its revenues for the fiscal year ending April 30, 2001, were $68 million, according to the SEA Web site.