Business
Mercury Systems Announces Acquisitions of The Athena Group and Syntonic Microwave
Two acquisitions expand scale and breadth of Company's security and RF capabilitiesDeepen market penetration in core embedded security and EW marketsOpen new
About this update from Mercury Systems Inc
[{"type":"text","content":"Two acquisitions expand scale and breadth of Company's security and RF capabilitiesDeepen market penetration in core embedded security and EW marketsOpen new growth opportunities in C4ISR, DoD research laboratories and Intelligence CommunityANDOVER, Mass., April 18, 2019 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com) today announced the acquisitions of The Athena Group, Inc. (Athena) and Syntonic Microwave LLC (Syntonic). The all cash purchase price for both transactions was $46 million in total. Both transactions are subject to net working capital and net debt adjustments. The acquisitions were funded through Mercury's existing revolving credit facility, and are not expected to have a material impact on Mercury's financial results for the fourth quarter or full fiscal year 2019.A privately-held company based in Gainesville, Fla., The Athena Group is a leading provider of cryptographic and countermeasure IP vital to securing defense computing systems. A world leader in differential power analysis (DPA) technology, they offer a complete portfolio of provable DPA-resistant solutions. Athena's sophisticated patented technologies meet mandated Department of Defense requirements and mitigate reverse engineering attempts on mission-critical systems. Embedded in millions of ASIC and next-generation FPGA devices, their solutions are designed to solve today's toughest security obstacles, enabling key applications such as artificial intelligence, mobile communications and cloud computing.Based in Campbell, Calif., privately-held Syntonic Microwave is a leading provider of advanced synthesizers, wideband phase coherent tuners and microwave converters optimized for signals intelligence (SIGINT) and electronic intelligence (ELINT) applications demanding frequency coverage up to 40 GHz with 2 GHz instantaneous bandwidth. To address the rapidly evolving needs across the defense industry, the entire Syntonic product portfolio was designed for modularity, configurability and rapid prototyping in order to deliver unparalleled performance for next-generation electronic warfare (EW) applications.\"The acquisitions of Athena and Syntonic represent continued milestones for our market and content expansion strategy,\" said Mark Aslett, Mercury's President and Chief Executive Officer. \"Mercury has a long history of collaboratio...