June 3, 2005
The Titan Corporation agrees to be acquired by defense contractor L-3 Communications for approximately $2.65 billion.
As reported widely in the press, including The Wall Street Journal and The New York Times, Willkie client The Titan Corporation, a leading national security solutions provider, agreed to be acquired by defense contractor L-3 Communications for approximately $2.65 billion, including the assumption of Titan’s debt. The June 3 agreement calls for an all-cash merger at a price of $23.10 per share. Headquartered in San Diego, Titan Corporation provides comprehensive information and communications systems solutions and services to the Department of Defense, intelligence agencies, and other federal government customers. The company has approximately 12,000 employees and expected revenues for the full calendar year 2005 of approximately $2.4 billion. The Willkie team representing Titan includes partners Jack Nusbaum, David Boston and Richard Posen, and associates David Kurzweil, Thomas O’Grady and Erika Shalette.
