Target
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Buyer
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Description
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Space Propulsion & Power Systems Business
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Target: Canoga, CA-based Space Propulsion & Power Systems business specializes in the design, development, and production of high performance electric, mono-propellant & bi-propellant rocket engines and systems, and launch vehicle propulsion systems to private sector, U.S. federal, and international aerospace, defense, and space exploration markets.
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Buyer: Boca Raton, FL-based AE Industrial Partners is a private equity firm focused on investing in aerospace, defense, and industrial technology businesses. The company partners with management teams to support operational improvement, strategic growth initiatives, and long-term value creation across complex technical markets.
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Terms: Transaction announced on January 5, 2026. AE Industrial has announced that they plan to acquire a 60% controlling interest in the business, resulting in an implied TEV of $845M.
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Target: New Haven, CT-based Quantum Circuits is a developer of error-corrected superconducting gate-model quantum computing systems for defense and U.S. federal government markets. The company's platform utilizes a Dual-Rail Qubit with built-in error detection and control flow and features a programming interface for developing new algorithms and exploring quantum in novel ways.
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Buyer: Palo Alto, CA-based D-Wave Quantum develops quantum computing systems, software, and cloud-based services designed to solve complex optimization and computational problems. The company focuses on delivering accessible quantum and hybrid computing capabilities for commercial and government users.
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Terms: Transaction announced on January 7, 2026. Purchase price was $550M.
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Target: United Kingdom-based MARSS is a developer of AI-enabled joint multi-domain command and control systems for private sector, U.S. federal, and international government markets. The company's AI-powered IoT platform, NiDAR Core, provides a turnkey solution that fuses intelligence and surveillance to grant 360° situational awareness in a single tactical picture.
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Buyer: Australia-based Electro Optic Systems develops advanced electro-optical and space technologies including remote weapon stations, space domain awareness systems, and satellite tracking solutions. The company supports defense and space customers with integrated systems designed for mission-critical operations in contested environments.
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Terms: Transaction announced on January 11, 2026. Purchase price is expected to be $153M, consisting of $36M cash-at-close and $117M through a potential earnout comprised of cash and EOS shares based on performance milestones through May 31, 2027.
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Target: Elmsford, NY-based SEEQC is a developer of superconducting technologies for quantum-based systems in private sector and U.S. federal government aerospace and defense markets. The company's technologies are utilized in scalable fault-tolerant quantum computing, quantum communications, and quantum simulators.
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Buyer: New York, NY-based Allegro Merger Corporation is a special purpose acquisition company formed to pursue business combination opportunities in technology-enabled and industrial sectors. The company focuses on identifying and partnering with growth-oriented businesses through a public market transaction structure.
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Terms: SPAC deal announced on January 16, 2026. Terms not disclosed.
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