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Exhibit 99.1
PRESS RELEASE
TITAN ANNOUNCES ACQUISITION OF SENCOM CORPORATION
SAN DIEGO, CA - JUNE 1, 2000 -- THE TITAN CORPORATION (NYSE:TTN) today announced
that it has entered into a definitive agreement to acquire all the stock of
SenCom Corporation, a privately held information technology services company
headquartered in Bedford, MA in a cash purchase for an undisclosed amount.
SenCom's 335 engineers and scientists will become part of Titan Systems
Corporation, Titan's government information technology business.
Founded in 1992 by Dr. Fredrick S. Yeatts, SenCom provides information
technology services to government customers, principally the U.S. Air Force, the
Defense Information Systems Agency and the U.S. Customs Service, specializing in
the engineering and analysis of radar and electro-optical sensors, command and
control system development, computer and network security, and business process
engineering and program management. SenCom also performs key supporting roles in
programs of high national importance such as National Missile Defense, Theater
Missile Defense, Space Surveillance Network Improvement, Global Command &
Control System and Drug Interdiction and Control.
"The acquisition of SenCom significantly strengthens our relationship with
certain key customers including the U.S. Air Force, joint services and the
intelligence community. In addition, SenCom brings unique technical capabilities
and experience in the areas of sensor and tracking systems, national missile
defense, and information security certification. With the acquisition of SenCom,
we have added another premier information technology services company to our
diversified information technology services business while gaining the valuable
technical expertise of more than 300 highly specialized scientists and
engineers," said GENE W. RAY, Chairman, President and CEO of Titan.
Headquartered in San Diego, California, The Titan Corporation is a diversified
technology company that creates, builds and launches technology-based
businesses, offering innovative technical solutions. Three of Titan's four core
businesses develop and deploy communications and information technology
solutions and services. In addition, Titan markets the leading technology for
the electronic pasteurization of food products and is continually identifying
promising technologies suitable for commercialization. The Company has 5,400
employees, annualized sales of approximately $750 million and total backlog in
excess of $1.6 billion.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts,
including our outlook on the future performance of our core businesses and our
growth strategies, are forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from those
set forth in or implied by forward-looking statements. These risks and
uncertainties include the Company's entry into new commercial businesses,
dependence on continued funding of U.S. Department of Defense programs,
government contract procurement and termination risks, risks associated with
acquiring other companies, including integration risks, and other risks
described in the Company's Securities and Exchange Commission filings.
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INVESTOR RELATIONS CONTACT:
Rochelle Bold, VP Investor Relations
(858) 552-9400 or [email protected]
MEDIA CONTACT:
Wil Williams, VP Corporate Communications
(858) 552-9724 or [email protected]
