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TTM Technologies Strikes $1.1 Billion Deal to Acquire Epiq Solutions

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TTM Technologies Strikes $1.1 Billion Deal to Acquire Epiq Solutions

TTM Technologies (TTMI) has agreed to acquire Epiq Design Solutions in a $1.1 billion all-cash deal that will add complementary software-defined radio and turnkey radio frequency products to its portfolio.

TTM, which manufactures radio frequency components, among other technology products, for various industries including cloud and artificial intelligence infrastructure companies, said Monday that the deal is backed up by committed financing from JPMorgan (JPM), Bank of America (BAC), and Barclays (BCS).

The transaction is expected to be immediately accretive to TTM's adjusted earnings before interest, taxes, depreciation and amortization margin, and accretive to its non-GAAP diluted earnings per share in 2028, according to the company's statement.

"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," Chief Executive Edwin Roks said.

Epiq, a portfolio company of private equity firm Veritas Capital, provides mission-ready radio frequency to its commercial, government and defense customers. Veritas announced its strategic investment in Epiq in 2022.

Neither Epiq nor Veritas immediately replied to' requests for comment.

In its statement, TTM said that the planned acquisition should boost its vertical integration capabilities for its integrated electronics products.

"We believe it significantly expands TTM's addressable opportunities in high-priority defense mission areas including missile defense, (Geostationary Earth Orbit-to-Low Earth Orbit) space, communications and signals intelligence, electronic warfare, and intelligence, surveillance and reconnaissance," the company said.

Shares of TTM were down 3.3% in Monday morning trade.

Price: $136.88, Change: $-3.12, Percent Change: -2.23%

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