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Target: Arlington, VA-based TSC develops advanced sensors, RF electronics, precision-weapons subsystems, radar, electronic warfare systems, and airborne ISR platforms for U.S. defense and special operations markets. The company supports concept development and prototyping through production and sustainment. Niceville, FL-based ASEI develops and manufactures GPS/INS navigation systems, flight-control computers, weapon-system electronics, and precision guidance technologies for private sector and U.S. federal government markets.
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Buyer: New York, NY-based Falcata develops and manufactures mission-critical sensing, guidance, navigation, and control technologies for missile defense and national security applications. The company provides advanced sensors and precision guidance and control solutions to support threat detection, tracking, and neutralization across defense environments.
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Terms: Transaction announced on October 1, 2026. Terms not disclosed.
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Target: Sandwich, MA-based Popoto Modem designs and manufactures underwater acoustic modems and communication systems for subsea autonomous, defense, and marine applications. The company offers integrated acoustic modems, OEM board sets, and subsea recording technologies enabling resilient underwater data transmission and networking.
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Buyer: Costa Mesa, CA-based Anduril Industries is a defense technology company specializing in autonomous systems and artificial intelligence-driven surveillance platforms. The company offers products such as autonomous drones, surveillance towers, and AI-powered command and control software.
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Terms: Transaction announced on October 2, 2026. Terms not disclosed.
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Target: Israel-based Ophir Optics develops high-precision infrared thermal imaging and laser optics for defense, security and industrial applications. The company designs, manufactures and tests optical components, lens assemblies and camera-integrated systems for land, air, maritime and unmanned platforms.
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Buyer: Santa Ana, CA-based TTM Technologies designs and manufactures mission systems, RF and microwave components, electronic assemblies, printed circuit boards (PCBs), and IC substrates for aerospace, defense, and commercial markets. The company specializes in advanced radar and surveillance systems, communications equipment, high-reliability RF assemblies, and multi-chip modules for fixed-wing, rotary-wing, and unmanned platforms.
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Terms: Transaction announced on October 19, 2026. Purchase price expected to be $650M, 10.3x FY2027E adj. EBITDA excluding synergies.
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Target: Newark, NY-based Ultralife manufactures rechargeable and non-rechargeable batteries, battery systems and communications electronics for defense, medical and industrial applications. The company supplies military radio power systems, specialized battery packs and accessories for demanding operating environments.
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Buyer: Reading, PA-based EnerSys provides stored energy solutions and power systems for industrial, commercial, and defense applications worldwide. The company specializes in batteries, power equipment, and energy storage solutions for telecommunications, data centers, material handling equipment, transportation, military vehicles, advanced defense programs, and autonomous systems.
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Terms: Transaction announced on October 27, 2026. Purchase price is expected to be $320M, 1.6x and 16.0x FY2026E revenue and EBITDA, respectively.
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