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Business/Financial

Ultra Electronics To Acquire Kratos’ U.S. And U.K. Electronic Products Division Units

By Cal Biesecker

Monday, June 1st, 2015

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Ultra Electronics To Acquire Kratos’ U.S. And U.K. Electronic Products Division Units

Kratos' Lancaster, Pa., facility, part of the former Herley Industries, is being sold as part of the deal with Ultra Electronics. Photo: Kratos

Kratos Defense & Security Systems [KTOS] on Monday said it has agreed to sell its United States and United Kingdom operations of its Electronic Products Division to Britain’s Ultra Electronics Holdings for $260 million in cash.Terms of the deal include reimbursement of up to $5 million for taxes incurred as part of the transaction, for a total transaction consideration of $265 million.Kratos’ Microwave and Products business will retain operations and manufacturing facilities in Israel, which support the Iron Dome, David’s…

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