TTM Technologies [TTMI] on Monday said it has agreed to acquire the Telephonics business unit from Griffon Corp.

[GFF] in a $330 million cash deal that will significantly boost its aerospace defense business.

The acquisition is subject to regulatory approvals and is expected to close by the end of June.

TTM said the acquisition will establish the company as a Tier 1 supplier to the Defense Department, strengthen its position in radio frequency-based integrated systems for defense, allow it to move up the value chain for custom designed solutions and highly engineered products, deepen its relationships with key defense customers, grow its international aerospace and defense business, and more than double its aerospace and defense design and development engineering talent.

TTM also said that the acquisition will grow overall aerospace and defense sales to about $1 billion, or 40 percent of the company’s total revenue.

Telephonics designs, develops and manufactures a range of imaging and surveillance radar, search, avoidance and rescue radar, identification friend or foe technologies, ground surveillance systems, air traffic control management systems, and sensor solutions for manned and unmanned aircraft.

TTM said that about 50 percent of Telephonics’ sales come from the radar business, 24 percent from communications systems, 21 percent from surveillance systems, and 5 percent from integrated circuits. About 25 percent of Telephonics’ business is international.

Telephonics’ systems are on more than 100 platforms, with the majority of content sole-sourced. Platforms include the F-35 fighter, UH-60 Black Hawk helicopter, P-8 maritime patrol aircraft, and the AN/SPY-6 air and missile defense radar.

Telephonics has about 625 employees, 25 percent of them engineers.

“This is a compelling strategic combination that we expect will meaningfully enhance our product offering to our aerospace and defense customers with engineered system level solutions,” Cathie Gridley, president of TTM’s aerospace and defense business unit, said in a statement. “This acquisition positions TTM with full vertical integration capability from printed circuit board to highly sophisticated OEM solutions to better meet our aerospace and defense customer needs.”

TTM’s financial adviser on the deal is J.P. Morgan and Griffon is advised by Lazard.