TTM Technologies, Inc. (NASDAQ: TTMI) has announced a definitive agreement to acquire EPIQ Design Solutions LLC for approximately $1.1 billion in an all-cash transaction.
The acquisition of Epiq, a provider of open-architecture, AI-enabled software-defined radios and high-performance RF products, is expected to enhance TTM's offerings in mission-critical signals intelligence and electronic warfare applications.
The deal is anticipated to be immediately accretive to TTM's adjusted EBITDA margin and is projected to positively impact its non-GAAP diluted EPS by 2028.
The acquisition follows TTM's planned purchases of Swiss Technology Group and ILFA, which are expected to conclude by the end of the third quarter.
Guggenheim Securities, LLC is acting as the exclusive financial advisor, while Polsinelli PC is the exclusive legal adviser for TTM in this transaction.
“In support of our strategic direction we plan to continue to invest in critical technologies for our customer base. The addition of Epiq Solutions to TTM is highly strategic and provides complementary technology to our overall portfolio and represents an important step in executing our long-term growth strategy,” said Edwin Roks, President and Chief Executive Officer of TTM.