Titan Corporation
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Titan Corporation is a United States-based company headquartered in San Diego, California. The company is a provider of information and communications systems solutions and services to the Department of Defense, intelligence agencies, and other federal government customers. As of 2004, the company has approximately 12,000 employees and annualized sales of approximately $2 billion.
As a public military contractor the company employed some of the personnel who were implicated in the prisoner abuse scandal at Abu Ghraib prison in 2004.
In May 2004, a civilian contractor and Titan employee Adel Nakhla, an Egyptian-born American citizen, was "terminated" from the job, after he admitted he held down inmates that were "nude, handcuffed to each other and placed in sexual positions." (as described by the Taguba Report)
The company was in the process of being acquired by the Lockheed Martin Corporation but the attempted merger fell through on June 26, 2004:
Lockheed Martin Corporation announced that it has terminated the merger agreement with The Titan Corporation because Titan did not satisfy all the closing conditions on or before June 25, 2004. Under the terms of the amended merger agreement, either party could terminate the merger agreement if Titan either (i) had not obtained written confirmation from the Department of Justice that the investigation of alleged Foreign Corrupt Practices Act (FCPA) violations was resolved as to Titan and the Department did not intend to pursue any claims against Titan; or (ii) Titan had not entered into a plea agreement on or prior to June 25, 2004, provided that the terminating party had not contributed to the failure to consummate the merger through a breach of its obligations in any material respect. Titan did not satisfy either requirement.
On March 2nd 2005, the company admitted to illegally providing $2 million to the re-election campaign of President Mathieu Kérékou of Benin, and agreed to pay $28 million in penalties.
External link
- Company history (http://www.titan.com/about/)
- BBC news article on the fine (http://news.bbc.co.uk/2/hi/business/4310331.stm)Template:Corp-stub