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Business/Financial

Kratos Completes Sale Of Electronics Division Units To Ultra

By Cal Biesecker

Monday, August 24th, 2015

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Kratos Completes Sale Of Electronics Division Units To Ultra

Some of the work that Kratos retains following the sale of a portion of its electronics business include beam forming modules shown above. Photo: Kratos

Kratos Defense & Security Systems [KTOS] on Monday said it has completed the sale of its United States and United Kingdom operations of its Electronic Products Division to Britain’s Ultra Electronics Holdings plc for $260 million in cash.Terms of the deal include upward of an additional $5 million in consideration for taxes incurred as part of the transaction.Following transaction costs and federal and state tax payments, Kratos said it expects $232.4 million in net proceeds from the deal, which was…

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