Traded as OTC Pink: TLSRP Number of employees 560 Type of business Private | Website www.telos.com Founded 1971 Key person John B. Wood | |
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Industry ConsultingGovernment contractor Stock price TLSRP (OTCMKTS) US$ 8.94 -0.06 (-0.67%)21 Mar, 4:00 PM GMT-4 - Disclaimer Subsidiaries Telos Identity Management Solutions LLC Profiles | ||
Telos Corporation is an information technology (IT) consulting company located in Ashburn, Virginia. The company’s name is derived from the Greek word for “purpose” or “goal". Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the United States Department of Defense (DoD).
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Company
Telos was founded in 1968, and incorporated in Maryland in 1971. From 1975 Telos developed and supported ground based telemetry systems for the Jet Propulsion Laboratory. Starting in 1976, the company provided software engineering services for the U.S. Army's tactical fire support systems. It was originally named C3, Incorporated, but in 1992 acquired Telos Corporation of California as a subsidiary (from Contel Federal Systems which was part of GTE) for $32 million and adopted its name. In 1994, the company attempted to recapitalize its debt by issuing a series of notes and preferred stock shares, after accumulated losses. A disagreement between former chairman Fred Knoll and John R.C. Porter, the majority shareholder at the time, was settled for $1 million. At the end of 1995 it had 1,658 employees and had headquarters in Herndon, Virginia.
The company provides security in four major areas:
Operations and Infrastructure
On July 19, 2002, the Santa Monica, California operations were sold to L-3 Communications for $22.3 million. On October 17, 2005, shareholder Costa Brava Partnership filed a lawsuit against the company for failing to issue its required dividends. The plaintiff was joined in 2006 by Wynnefield Small Cap Value. Counter-claims followed through 2008. The company had preferred stock traded on the OTC Bulletin Board until July 13, 2007, and the on Pink Sheets with symbol TLSRP.
Telos was one of eight prime contractors for a program of the United States Air Force for network-centric and information technology products and services known as NETCENTS. The first NETCENTS contract started in 2004 and ran through 2009. Telos recorded $230 million in sales for NETCENTS in 2008.
In April 2008, Telos won a $43.5 million US Army contract to manufacture the Combat Service Support Automated Information System Interface (CAISI), a secure, wireless local area network that connects soldiers in both the training and operational environment to their logistics networks. John B. Wood, who joined in 1992 and became president and chief executive in 1994, received an estimated $1.38 million in compensation in 2008, including allowances for a car, health club, and golf club membership. The company's largest shareholder was Toxford Corporation of Geneva, Switzerland.
In January 2009, the U.S. Army awarded Telos one of 12 contracts to provide the biometrics services, supplies, and related hardware and software required to assist the Biometrics Task Force, an Army executive agency.. On March 19, 2009 Telos announced that it will sit on the Open Compliance and Ethics Group’s Technology Council. In October 2009 Telos won Government Security News’ 1st Annual Homeland Security Awards competition in the category of Best Security Compliance, Auditing, Vulnerability Management Solution in the IT Security category for its Xacta IA Manager solution. In November 2009, Telos was awarded a SmartBuy/Enterprise Software Initiative (ESI) blanket purchase agreement with DoD for Xacta IA Manager and Automated Message Handling System (AMHS).
In February 2011, Telos won a contract to modernize wireless networks for ten sites of the Air National Guard. In July 2011, Telos acquired the assets of IT Logistics, Incorporated. The Telos NETCENTS contract was extended through 2013. At the end of 2012, the company reported 560 employees.