- Press Release
- Dec 6, 2022
U.S. Navy Awards Titan $149 Million ID/IQ SPAWAR Integrated Systems Engineering Support Services Contract
The Titan Corporation
announced today that the U.S. Navy’s Space and Warfare Systems
Command Systems Center Charleston (SPAWAR) has awarded it an indefinite
delivery, indefinite quantity (ID/IQ) five-year integrated systems engineering
support services contract (one base year, plus four option years), having a
potential value with options, if exercised, of $149.2 million.
Under this contract, Titan will provide services in the areas of systems
engineering, program management support, integrated logistics, configuration
data management, and security support for various departments of the Navy’s
command, control, communications, computers, intelligence, surveillance and
reconnaissance (C4ISR) systems and other command and control networks.
“This award strengthens Titan’s role as a leading provider of key C4ISR
systems engineering services,” said Gene Ray, Titan’s chairman, president, and
CEO. “We are pleased that Charleston SPAWAR has chosen Titan to be the new
prime contractor to perform this important work.”
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 and other federal government customers. As a
provider of national security solutions, the company has approximately
12,000 employees and annualized sales of approximately $2 billion.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act
of 1995: The statements contained in this release, which are not historical
facts, are forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Examples of such forward-looking statements include that the government will
fund and Titan will receive work and task orders having an expected potential
value of $149.2 million over the five-year period of the described work during
the life (one base year plus four one-year option periods) of the contract.
These statements 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 risks
associated with the Company’s dependence on continued funding of U.S.
Department of Defense and federal civilian agency programs, contract
termination risks, risks associated with acquiring other companies, including
integration risks, and other risks more fully described in the Company’s
Securities and Exchange Commission filings.
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