TTM closes $1.1 billion acquisition of Epiq Solutions
Six weeks after the deal was announced, TTM Technologies has completed its acquisition of the software-defined radio maker. TTM now says explicitly that the purchase will dilute its earnings per share next year.
TTM Technologies has completed the acquisition of EPIQ Design Solutions, better known as Epiq Solutions, according to a press release from the company. The all-cash purchase price is USD 1.1 billion, subject to customary adjustments at closing. TTM announced the deal in mid-August.
Epiq develops software-defined radios, high-performance RF products and radiation-tolerant computing solutions for space. Its products are used mainly in signals intelligence and electronic warfare. For TTM, best known as a PCB and substrate manufacturer, the acquisition is part of its strategy of moving further up the value chain in aerospace and defence, adding capabilities in RF systems and compact, software-driven solutions on top of its existing manufacturing.
“The completion of the Epiq acquisition is an exciting moment for TTM as we welcome a very strong management team and a profitable, well-established business that provides innovative capabilities for our A&D customers and bolsters our overall technology portfolio,” said Edwin Roks, President and Chief Executive Officer of TTM Technologies.
Epiq is one of three acquisitions TTM has announced this year, alongside Swiss Technology Group in Zürich and ILFA in Hannover, which were expected to close in late Q3.
