Ultra acquires Kratos' EPD division
Ultra Electronics has acquired Kratos Defense & Security Solutions' Electronic Products Division (EPD), a producer of RF and microwave subsystems and systems for electronic warfare (EW), simulation, radar and other applications. The acquisition was announced on 1 June.
EPD will be integrated into the tactical and sonar division of Ultra and renamed Ultra Electronics Herley Industries. Ultra will pay $260 million in cash at the closing of the transaction, and up to another $5 million in cash over the next 12 months.
EPD provides its proprietary technology for various defence platforms, including the EA-18G Growler, AMRAAM missile, P-8A Poseidon and Trident II D5 missile.
Its major customers include Raytheon, Boeing, Lockheed Martin, Northrop Grumman and Harris. Ultra believes that the division is well-positioned for opportunities on various next-generational national strategic security and defence programmes.
EW has been identified as a targeted growth area in core markets where Ultra is underrepresented. The company believes that EPD has an established position in the US EW market, which is forecast to grow over 3% year-on-year. The new division is also expected to strengthen Ultra's existing EW capabilities in Canada and Australia, and open up new markets and customers for the company.
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