Navy Awards Titan $194.8 Million IT Support Contract
6/12/2003 - The Titan Corporation (NYSE: TTN) announced that it has been awarded an Indefinite Delivery Indefinite Quantity (ID/IQ) contract by the Department of the Navy having a potential value, with options if exercised, of $194.8 million through March, 2010. The contract provides support for the Navy’s Information Technology Services needs.
“With this single contract award to Titan, the company further enhances its partnership with a key client, while leveraging Titan’s broader support to the defense intelligence community mission of Intelligence Information Sharing.” said Gene Ray, Titan’s president, chairman and CEO. “Titan continues to be recognized as an industry leader in IT Enterprise Infrastructure and Systems Management, employing commercial best practices in a performance based contract environment. With the award of this important contract, we look forward to continuing and enhancing our partnership with the Navy and its partners in the Defense Intelligence Community.”
Under the contract, the Titan-led team will be the primary provider of information technology and infrastructure support, enterprise management, systems engineering, systems integration, specialized intelligence application development, and other support and IT services.
About Titan
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. The company has approximately 10,500 employees and current annualized sales of approximately $1.5 billion.
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