Target
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Buyer
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Description
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a portfolio company of
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Target: Brockton, MA-based Antenna Associates is a developer of advanced Identification Friend or Foe (IFF) and secondary surveillance radar (SSR) antenna systems for private sector and U.S. federal government defense markets. The company's 18,000 square foot company headquarters houses all operations required to design, manufacture and test high-performance military antennas, radar antennas, antenna overhauls and antenna repairs including.
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Buyer: Littleton, MA-based Diamond Antenna & Microwave is a specialist in RF rotary joints and rotating waveguide assemblies for radar, satellite, air-traffic control, airborne, shipboard, and space communication platforms. The company designs, manufactures, and supports high-reliability electro-mechanical RF interfaces and rotating subsystems for mission-critical applications.
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Terms: Transaction announced on November 7, 2025. Terms not disclosed.
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Target: Provo, UT-based Inertial Sense is a provider of tactical-grade global navigation solutions and inertial navigation systems (GNSS+INS) for private sector and U.S. federal government markets. The company's GPX-1 is a multi-frequency and multi-constellation GNSS receiver module that combines GPS/QZSS (L1, L5), Galileo (E1, E5), GLONASS (L1), BeiDou (B1, B2), NavIC (L5), and SBAS (L1) to provide improved performance for global positioning navigation solutions.
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Buyer: Sweden-based Hexagon is a provider of measurement, metrology, and geospatial solutions for aerospace, defense, and industrial sectors. The company supports precision manufacturing, quality control, digital twin creation, and mission-planning through advanced metrology hardware and software.
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Terms: Transaction announced on November 10, 2025. Terms not disclosed.
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Target: Fort Lauderdale, FL-based Drone Nerds is a distributor and provider of enterprise unmanned aerial systems (UAS) for private sector and U.S. federal government markets. The company's proprietary fleet-management and support platform, Always Flying, offers end-to-end maintenance, repair, and replacement services designed to maximize drone uptime and mission readiness.
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Buyer: Englewood, CO-based XTI Aerospace is a developer of aerospace vehicles and aviation-grade components for next-generation aircraft platforms. The company offers design, engineering, systems integration, and manufacturing support to enable advanced mobility solutions.
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Terms: Transaction announced on November 12, 2025. Purchase price was $41M, 0.4x FY2024A revenue.
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Target: San Diego, CA-based Ziva is a developer of advanced radio-frequency and optical technologies, focusing on novel architectures such as coherent beamforming, time-synchronization, and high-performance communications solutions for defense and commercial applications. The company advances systems from concept to prototype, supporting wireless, sensing, and integrated electro-optical platforms in challenging environments.
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Buyer: Hawthorne, CA-based CHAOS Industries is a defense-technology company specializing in counter-drone radar and sensor systems designed for detection and tracking of aerial threats including drones and missiles. The company delivers multi-static radar and sensor-network solutions to provide real-time situational awareness and threat response for security and defense clients.
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Terms: Transaction announced on November 13, 2025. Terms not disclosed.
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