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High-Tech Titan eyes acquisition of firm based in Virginia



Mitchell International Wraps Up Merger With Ensera

It’s up to shareholders of BTG, Inc. whether they want the Fairfax, Va.-based company to merge into San Diego-based Titan Systems.

Titan announced its intent to acquire BTG last month.

Both Titan Systems , a subsidiary of the Titan Corp. , and BTG offer information technology services to the federal government. Yet there is little overlap in that customer base, said Eric DeMarco, Titan’s executive vice president and COO, in a prepared statement.

Titan announced it would pay $13.35 per BTG share, laying out $114.9 million in stock and $27 million in cash. Terms could change if Titan’s stock falls in price. Titan issued a statement detailing how the transaction would change if its stock price reaches certain thresholds.

The deal would make BTG’s 1,800 employees part of Titan, which employs 7,800. The combined Titan Systems could expect nearly $1.3 billion in revenues in 2002, a Titan statement said.

Titan expects the purchase to close this year, and would assume roughly $32 million in BTG’s debt as part of the deal.

“Becoming part of a larger company is the next step in the advancement of BTG,” said President and CEO Ed Bersoff, who founded BTG in 1982, “and each of our stakeholders will be served well by this merger.”

BTG is traded on the Nasdaq under the symbol BTGI. Titan trades on the New York Stock Exchange under the symbol TTN.

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Merging Traffic:

San Diego-based Mitchell International, which provides Web-based services linking body shops, auto insurance companies and other businesses dealing in auto insurance claims, reports it has completed its acquisition of Ensera Inc.

Redwood Shores-based Ensera offers similar services.

Both companies are privately held and terms of the deal were not made public.

Ensera founder and CEO Anthony Aquila will become executive vice president at Mitchell, serving under Jim Lindner, Mitchell’s chairman, president and CEO. Other key Ensera executives have taken senior management positions with Mitchell.

Mitchell reported the merger had been completed last week, and said its employees were busy integrating products from both companies. As part of the deal Mitchell gets Ensera customers such as Fireman’s Fund Insurance Co.

There was no word on whether the merger involved layoffs.

Meanwhile, a spokeswoman for one of the merged company’s prime competitors, CCC Information Services Inc. of Chicago, reports her company is unfazed.

“This is an exciting time to be in our industry,” said Susan Jablonski, predicting her employer will continue to be a leader in this specialized area.

CCC called the Mitchell-Ensera merger “a validation of the need in the auto claims industry to embrace technologies that can improve the overall consumer experience throughout the claims process.”


Columnar Components:

Heriberto Batiz of Web site designer Batiz.com in Vista is one of 10 finalists for Hispanic Business magazine’s Entrepreneur of the Year award. The magazine used financial performance to pick its finalists. BrightCom Technologies, Inc. has its new U.S. headquarters at 703 Palomar Airport Road in Carlsbad. The company makes hardware and software using the Bluetooth short-range radio standard. Its parent company (which has the same name) is in Tel Aviv, Israel.

Send high-tech news to Graves at bgraves@sdbj.com.

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