Defense Electronics M&A Transactions - February 2024

Download and read the February 2024 issue of the Defense Electronics Monthly, covering the latest M&A deal news and valuation trends in the defense electronics sector, including activity in segments such as C4ISR and electronic warfare, rugged electronics, RF & microwave, embedded computing, interconnects, microelectronics & semiconductor and test & measurement. Sign up for the Defense Electronics Monthly distribution list to stay up-to-date on the headline acquisitions impacting your market and the current dynamics of the publicly traded strategic companies within the industry.

Key Defense Electronics Deals Announced

Target	Buyer	Description
		Target: United Kingdom-based Malloy develops and manufactures all-electric uncrewed aerial systems (UAS) and VTOL (Vertical Take Off and Landing) aircraft. The company's current range of uncrewed, heavy lift quadcopters are capable of lifting payloads from 68kg to 180kg over short to medium range missions. Buyer: United Kingdom-based BAE Systems provides products and services for air, land, and naval forces, as well as advanced electronics, security, information technology, and support. Examples of the company’s offerings include military aircraft, commercial aircraft, naval ships, submarines & systems, guided weapon systems, and training & simulation products. Terms: Transaction announced on February 2, 2024. Terms not disclosed.
		Target: Netherlands-based Adimec is a manufacturer of customized high-performance industrial and scientific cameras for private sector and international government machine vision, healthcare, and global security markets. The company's cameras and lens assemblies deliver true accurate images and are manufactured in batches ranging from 50-500 per year. Buyer: Thousand Oaks, CA-based Teledyne Technologies provides enabling technologies for industrial growth markets. The company’s products and capabilities include harsh environment interconnects, electronic test & measurement equipment, digital imaging sensors and cameras, aircraft information management systems, and defense electronics. Terms: Transaction announced on February 13, 2024. Terms not disclosed.
		Target: United Kingdom-based Silent Sentinel is a manufacturer of advanced and highly modular surveillance camera platforms for land and maritime surveillance applications. Designed to operate in the harshest conditions, the company's rugged, thermal cameras offer clear visibility in complex and extreme environments. Buyer: Chicago, IL-based Motorola Solutions provides mission-critical communication infrastructure, devices, software and services which help government and enterprise customers improve their operations through increased effectiveness and efficiency of their mobile workforces. Terms: Transaction announced on February 14, 2024. Terms not disclosed.
	a portfolio company of	Target: Portland, OR-based Flex Force designs and manufactures UAS and Counter-UAS systems. Flex Force's flagship product line, the DroneBuster, is a compact, lightweight, and manportable jammer system that is readily mounted into integrated, fixed site jammer applications by dismounted troops, security teams and first responders. Buyer: Dallas, TX-based High Point Aerotechnologies develops and manufactures autonomous defense and robotic systems for multi-mission capabilities. The company develops scalable, interoperable software and is a prime integrator for sensors and effectors for multi-domain operations. Terms: Transaction announced on February 20, 2024. Terms not disclosed.
	a portfolio company of	Target: Rio Rico, AZ-based Charles E. Gillman is a manufacturer of high-reliability electrical cables and harnesses for military ground vehicles and other ruggedized applications. The company's manufacturing capabilities range from prototypes to high volume, simple lead assemblies to complex multi-branch harnesses. Buyer: Hudson, NH-based kSARIA produces and supplies mission critical connectivity solutions for the aerospace and defense end markets. The company offers complete interconnect solutions, including optical fiber, copper, RF or hybrid cable assemblies, for all aspects of Mil/Aero requirements. Terms: Transaction announced on February 26, 2024. Terms not disclosed.
	a portfolio company of	Target: Germany-based Galleon GmbH is a distributor of rugged, high-performance embedded computing solutions for the aerospace and defense communities. The Galleon portfolio includes integrated systems for military ground vehicles, rugged embedded systems solutions, and a distribution network for board-level products. Buyer: Alpharetta, GA-based Spectra A&D designs and manufactures highly engineered avionics and electronics solutions. The company offers its customers a differentiated portfolio of proprietary products that span the entire data capture lifecycle – recording, processing, routing, and ultimately displaying mission-critical data. Terms: Transaction announced on February 26, 2024. Terms not disclosed.