Titan makes a deal
Titan Corp. of San Diego is acquiring 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.
The stock deal is valued at about $72 million. The transaction, which should close in the second quarter of 2002, will add approximately $45 million to $50 million to Titan's 2002 revenue. Titan has 10,000 employees and annual sales of about $1.3 billion.
SEA brings to Titan a mix of time and materials and cost-plus-fixed-fee contracts with customers such as the Air Force, Army, Navy and the Nuclear Regulatory Commission.
The company was founded in 1980 as a defense research and development contractor specializing in weapons effects studies. Its services now include research and development, modeling and simulation, systems integration, IT solutions development and custom software design.
SEA employs 350 and manages a subcontractor staff of 200. Its revenue for the fiscal year ending April 30, 2001, was $68 million, according to the SEA Web site.