SAN DIEGO, Jan. 14 /PRNewswire-FirstCall/ -- The Titan Corporation announced today that it has been awarded a Department of Defense Systems Integration, Design Development, Operations and Maintenance Services III (D/SIDDOMS III) prime contract to provide information technology support to the Military Health System (MHS), its components, and the Department of Veterans Affairs services. The total value of this multiple-award, indefinite delivery/indefinite quantity (ID/IQ) contract is $8 billion over a ten-year period. Titan anticipates that the potential value of its future task orders from this award to be approximately $70 million.
Working in partnership with the TRICARE Management Activity under this prime contract, Titan will provide the design, development, procurement, testing and operations of systems that represent the evolving needs of the Military Health System.
"This contract is a great opportunity for us to provide state-of-the-art technical services to the TRICARE Management Activity and its beneficiaries, while reflecting Titan's continued commitment to providing quality services and solutions to our nation's defense community," said Gene Ray, Titan's president, chairman and CEO. "Our team is ready to supply the technical innovations that will enable the Military Health System to meet the needs of its customers now and in the future."
To support this critical initiative, Titan assembled a world-class industry team, including Comsys, Dell, Fuji film, Raytheon, eMagination Software, Epiphany Software Inc., LRW Digital Inc., Kodak Corporation, Immediate Systems Resources Inc., Preferred Systems Solutions, Inc., 3M Health Information Systems, EMC Corporation, Analytical Sciences Inc., Strategic Management Systems Inc., Mednet Consulting Services Inc., ITG, Vision Online, Catapult Technology, Syntek, Spectrum Healthcare and RADinfo Systems.
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. As a provider of national security solutions, the company has approximately 12,000 employees and current annualized sales of approximately $1.9 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 compete and win task orders having a potential value of $70 million against the work described during the life and option periods of this 10-year ID/IQ 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 described in the Company's Securities and Exchange Commission filings.
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