Home / M&A Activity / Rakesh Sharma: Ultra Electronics to Buy Kratos Division in EW Market Push

Rakesh Sharma: Ultra Electronics to Buy Kratos Division in EW Market Push

acquisitionBritain-based conglomerate Ultra Electronics has agreed to purchase Kratos Defense & Security Solutions‘ electronic products division for up to $265 million in cash in order to push further into the electronic warfare market.

Ultra said Monday Kratos will receive $260 million upfront and up to $5 million in potential additional payments under the deal, which the companies expect to complete in the third quarter of 2015.

Kratos President and CEO Eric DeMarco said the sale culminates a strategic business review conducted by the firm’s board of directors.

Ultra CEO Rakesh Sharma said he expects the transaction to add new technologies to the British company’s radio frequency and microwave technology portfolio as well as complement the firm’s sensor and communications business.

EPD, led by Richard Poirier, will operate as Ultra Electronics Herley Industries under Ultra’s tactical and sonar division upon the deal’s closure.

The business designs and manufactures RF and microwave components for integration into EW, radar, communication, missile, simulation and flight testing systems.

Check Also

NGA Deputy Director Stacey Dixon Receives 2020 Wash100 Award From Jim Garrettson, CEO of Executive Mosaic

Jim Garrettson, found and CEO of Executive Mosaic, presented Dr. Stacey Dixon, deputy director of the National Geospatial-Intelligence Agency (NGA), her first Wash100 Award as a part of the 2020 selection on Wednesday

Teresa Carlson, AWS Worldwide Public Sector VP, Named to 2020 Wash100 for Cloud Innovation, Business Expansion and New Educational Platforms

Executive Mosaic is honored to present Teresa Carlson, vice president of the worldwide public sector business at Amazon Web Services, as an inductee into the 2020 edition of the Wash100 Award for driving cloud innovation, expanding AWS' influence and advocating for cloud computing education within Virginia schools.