TTM Technologies completed its $1.1 billion cash acquisition of Epiq Design Solutions on September 30, adding a business focused on open-architecture, AI-enabled software-defined radios, RF products and radiation-tolerant space compute systems.
TTM said it financed the purchase with a mix of debt and existing note proceeds, including $300 million from an incremental senior secured term loan A, $800 million from an incremental senior secured term loan B, and part of the proceeds from its previously disclosed 6.750% senior notes due 2034.
The company said the deal is expected to be immediately accretive to adjusted EBITDA. On a per-share basis, TTM said Epiq will be moderately dilutive to non-GAAP diluted EPS in 2027 before turning accretive in 2028.
The acquisition also brings Epiq’s management and operations team into TTM’s aerospace and defense business. TTM said Epiq adds technology aimed at command of the RF spectrum through small-form-factor, software-driven solutions, expands its vertical integration across land, air, sea and space, and adds products optimized for size, weight and power.
TTM described Epiq as a profitable business with capabilities for mission-critical signals intelligence and electronic warfare applications. Following these announcements, the company's shares moved -1.12%, and are now trading at a price of $122.80. If you want to know more, read the company's complete 8-K report here.
