For Immediate Release
Titan Announces Accretive Acquisition of AverStar for Approximately $140 million in Common Stock
Acquisition Adds to Titan's Diversified Technology Portfolio
SAN DIEGO, CA ? March 27, 2000 The Titan Corporation (NYSE:TTN), a leading-edge technology company that builds technology-based businesses, today announced that it has entered into a definitive agreement to acquire AverStar, Inc., a private company headquartered in Burlington, Massachusetts. The acquisition, which will be accounted for as a pooling of interests and tax-free exchange of common stock, has an equity value of approximately $140 million, plus the assumption of approximately $65 million in debt, and is expected to be accretive to Titan's earnings.