Mercury Systems acquires Delta Microwave
ANDOVER, Mass. Mercury Systems, Inc. announced that it has acquired Delta Microwave of Oxnard, California. Delta designs and manufactures high-value radio frequency (RF), microwave, and millimeter wave subassemblies and components for the military and space markets.
According to the terms of the purchase agreement, Mercury acquired Delta for $40.5 million in cash, subject to net working capital and net debt adjustments; the transaction is expected to be treated as an asset sale for tax purposes.
Mark Aslett, Mercury’s president and chief executive officer, said of the sale: "[Delta's] strengths in high-power, high-frequency active and passive microwave components and subassemblies – particularly in GaN solid-state power amplifiers – are driving strong backlog and growth. These new capabilities add scale and breadth to Mercury’s existing RF, microwave, and millimeter wave portfolio, expand our addressable market into satellite communications, data links, and space launch – markets that are well-aligned with Mercury’s existing market focus – and deepen our penetration into our core radar, electronic warfare (EW), and precision-guided munitions markets.”