Defense Electronics M&A Transactions - November 2024

Download and read the November 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
Radar & Sensor Technology Business a portfolio company of	a portfolio company of	Target: Ypsilanti, MI-based Radar & Sensor Technology Business of Maxar develops and manufactures radar and other information sensors used for national security purposes and has extensive experience supporting the U.S. government-led synthetic aperture radar (SAR) program. Buyer: Danbury, CT-based ARKA Group is a provider of engineering, manufacturing, and technical services for the aerospace and defense industries. The company specializes in advanced materials, structural assemblies, and precision machining to support mission-critical applications. Terms: Transaction announced on November 1, 2024. Terms not disclosed.
		Target: United Kingdom-based Precision Acoustics is a manufacturer of hydrophones, ultrasound transducers, test stations and acoustic materials for private sector and international government medical imaging and Non-Destructive Testing (NDT) markets. Buyer: Orlando, FL-based Coda Octopus develops real-time 3D sonar technology and subsea solutions for the maritime and defense sectors. The company’s offerings include visualization systems for underwater operations, delivering enhanced situational awareness and operational efficiency. Terms: Transaction announced on November 4, 2024. Purchase price was $5.2M, 1.3x FY2023A revenue.
Optical Systems & Advanced Electronics Systems Businesses a portfolio company of		Target: United Kingdom-based Optical Systems Business of Excelitas provides advanced optics for heads-up and helmet-mounted displays, dismounted tactical night vision systems and proprietary glass used in space and satellite applications. Miamisburg, OH-based Advanced Electronic Systems Business of Excelitas provides custom energetics, including electronic safe & arm devices, high-voltage semiconductor switches and rubidium frequency standards. Buyer: Thousand Oaks, CA-based Teledyne designs and manufactures instrumentation, digital imaging, aerospace electronics, and engineered systems for industrial and government markets. The company’s portfolio supports applications in monitoring, communication, and defense. Terms: Transaction announced on November 6, 2024. Purchase price is expected to be $710M.
		Target: Plano, TX-based ENGIN-IC is a fabless semiconductor company that designs advanced Gallium Nitride ("GaN") monolithic microwave integrated circuits ("MMICs") and integrated microwave assemblies for private sector and U.S. federal government aerospace and defense markets. Buyer: Lowell, MA-based MACOM Technology provides high-performance RF, microwave, and millimeter-wave solutions for communication, industrial, and defense markets. The company’s products include amplifiers, switches, and photonic components that enable advanced connectivity. Terms: Transaction announced on November 6, 2024. Terms not disclosed.