An Encino-based company said Tuesday that it has entered into an agreement to purchase Spectron Development Laboratories Inc., of Costa Mesa.
Rolf B. Erickson, senior vice president of Titan Corp., declined to disclose how much Titan plans to pay for the 10-year-old company, which has established a reputation both for its laser technology and for its ability to garner federal research and development funds.
Erickson said the acquisition should be completed by the end of the year and is intended to "enhance and strengthen" Titan's position in laser technology. Titan provides design, development and testing services for defense programs. Its products include militarized computer and memory systems and laser devices.
Erickson said Titan will maintain the present management at Spectron and plans no major changes for the company. Numbering about 50 employees, Spectron, which is privately held, posted 1984 earnings of $204,000 on revenues of $3.7 million.