Mercury Systems (Nasdaq: MRCY) has purchased Syntonic Microwave and The Athena Group for $46M combined to expand its radio frequency capabilities and further broaden its presence in security and electronic warfare markets.
Mark Aslett, president and CEO of Mercury Systems, said in a statement published Thursday the acquisitions will help the company build up the size of its total addressable market and reinforce its strategy to deliver safety-critical processing subsystems for defense and aerospace applications.
Aslett noted that Athena’s technologies broaden Mercury’s BuiltSECURE intellectual property portfolio and enable the company to capitalize on the Department of Defense’s protection security requirements for local and foreign military sales.
Syntonic’s expertise in agile RF technology will allow Mercury to further expand into the signals intelligence and electronic intelligence markets and provide defense and government agency clients access to sensor processing capability, he added.
Mercury funded the transactions using its revolving credit facility and both deals are subject to net debt and working capital adjustments.
Gainesville, Fla.-based Athena offers a portfolio of differential power analysis-resistant platforms and countermeasure and cryptographic IP built to secure defense computing systems.
Campbell, Calif.-based Syntonic provides wideband phase coherent tuners, advanced synthesizers and microwave converters built for SIGINT and ELINT applications.