A Look at 2005's Top IT Deals
Monday, February 13, 2006; Page D04
Last year's big deals were ranked by a panel of merger and acquisition experts from a list of 100 deals compiled for Washington Technology by Houlihan Lokey Howard & Zukin.*
No 1.
Buyer: L-3 Communications Inc., New York
Seller: Titan Corp., San Diego
Purchase price: $2.6 billion
Closing date: July 29
Investment bank: Lehman Brothers Inc. for L-3 and Relational Advisors LLC for Titan
Why it's a big deal: This was the biggest deal of the year by size, but more importantly it gave L-3 a large presence as an information technology and systems engineering provider to defense and intelligence customers. The acquisition also brought the exit of Gene W. Ray, Titan's founder. Titan, like L-3, was always an aggressive acquirer. Now one consolidator in the federal market has been swallowed by another.
No. 2.
Buyer: Nortel Networks Corp., Brampton, Ontario
Seller: PEC Solutions Inc., Fairfax
Purchase price: $425 million
Closing date: June 7