Mercury Computer Systems, Inc. [MRCY] yesterday said it has completed its $72 million cash purchase of Micronetics, a designer and manufacturer of microwave and radio frequency components and subsystems for defense and commercial customers.
The transaction has an enterprise value of $74.9 million, about $500,000 less than when the deal was first announced in June, including $3.2 million in net debt.
“The acquisition is directly aligned with our strategy of expanding our capabilities, services and offerings along the sensor processing chain,” Mark Aslett, Mercury’s president and CEO, said in a statement.
Micronetics had $46 million in sales in its latest fiscal year. Nearly 80 percent of the company’s revenue is defense related.