© mailthepic Business | March 24, 2016

Mercury Systems to acquire business units from Microsemi

Mercury Systems has signed a definitive agreement with Microsemi Corporation to acquire the company's embedded security, RF and Microwave, and custom microelectronics businesses.
For the twelve months ended September 27, 2015, these businesses had combined revenues of approximately USD 100 million and pro forma standalone adjusted EBITDA of approximately USD 28 million. The businesses are primarily focused on the defense electronics market and employ a total of approximately 275 people based at facilities in Phoenix, Arizona, Camarillo, California, San Jose, California, and West Lafayette, Indiana.

Mercury will acquire these businesses for a total purchase price of USD 300 million.

“The single transaction we’re announcing today covers all three major parts of our business and, in effect, positions Mercury as the defense industry’s largest commercial embedded secure processing company,” said Mark Aslett, President & CEO of Mercury.

“The transaction adds secure solid-state storage to our array of industry-leading, pre-integrated processing subsystems capabilities. It nearly doubles the size of our RF and Microwave business, adding new capabilities, scale and synergies. In addition, it provides us with new capabilities in embedded security and mixed signal system-on-chip processing. All these capabilities are highly aligned with our business from a strategic perspective, so there couldn’t be a better fit with our existing strategy and solutions portfolio,” Mr. Aslett adds.

The transaction is currently expected to close during Mercury's fiscal 2016 fourth quarter ending June 30, 2016.


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