Titan Acquires Intelligence Data Systems, Reports Q1/05

The Titan Corporation [NYSE:TTN] entered into a definitive agreement to acquire Intelligence Data Systems, Inc. (IDS), a high-technology and professional services firm supporting the U.S. intelligence community, for $42.5 million in cash. The transaction is expected to close in Q2 of 2005 and is expected to be neutral to accretive to 2005 earnings. Titan also recently announced its Q1 2005 earnings, reporting record revenues and backlog, and strong bookings.

Headquartered in San Diego, The Titan Corporation is a leading provider of comprehensive information and communications systems solutions and services to the Department of Defense, intelligence agencies, and other federal government customers. As a provider of national security solutions, the company has approximately 12,000 employees and annualized sales of more than $2.2 billion.

IDS’ capabilities in intelligence support and information processing technologies are expected to complement Titan’s technical support portfolio to the U.S. intelligence community Serving a diverse range of intelligence community customers, IDS provides highly specialized expertise in data mining, high-performance computing, data analysis, information fusion, and information sharing. The company’s strong capabilities have made it one of the fastest-growing companies supporting the federal government. In 2004, “Inc. 500” ranked IDS as the third fastest-growing defense contractor in the nation