Ultra acquires RF and Microwave supplier
Ultra Electronics announces has agreed to acquire the Electronic Products Division (EPD) of Kratos Defense & Security Solutions for a cash consideration of up to USD 265 million.
EPD (formerly Herley Industries Inc.) is a designer and producer of RF and microwave integrated systems and subsystems for use in EW, radar, communication, missile, flight testtest is test and simulation applications. The company, headquartered in Massachusetts, US, employs 433 people across offices in the US and UK.
EPD will be integrated into Ultra’s Tactical & Sonar Division. EPD will be renamed Ultra Electronics Herley Industries and its current head, Richard Poirier, will remain as President.
Rakesh Sharma, Chief Executive of Ultra, commented: “I am pleased to announce the acquisition of EPD, and to welcome the business and its people into the Ultra Group. EPD adds significant core technologies in the RF and microwave sectors and complements the Group’s communications and sensor portfolio. EPD has a strong position on supported legacy programmes as well as future strategic ones. Together, we have the technology, innovation and market reach which will enable us to enhance our market position in the attractive EW market, both within the US and internationally.”