TTM Technologies to Buy Epiq Solutions in $1.1 Billion Cash Deal
The deal pushes TTM further up the defense value chain, adding signals-intelligence and electronic-warfare technology to a company built on circuit boards and RF hardware.
TTM Technologies (TTMI) agreed to acquire Epiq Solutions for $1.1 billion in an all-cash transaction. The deal is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other customary closing conditions.
TTM said the acquisition accelerates its "up the chain" vertical integration strategy, expanding its addressable opportunities across Missile Defense, GEO-to-LEO Space, Communications and Signals Intelligence, Electronic Warfare, and Intelligence, Surveillance and Reconnaissance. The move follows a pattern TTM has already set with its pending entry into Europe through the announced acquisitions of Swiss Technology Group AG and ILFA GmbH, both expected to close in the third quarter of 2026, and with the $1.0 billion revolver and upsized Term Loan B the company put in place to fund organic and inorganic investment.
"The addition of Epiq Solutions to TTM is highly strategic and provides complementary technology to our overall portfolio and represents an important step in executing our long-term growth strategy," said Edwin Roks, President and Chief Executive Officer of TTM Technologies.
The transaction lands as TTM's defense business has been building momentum. Its Aerospace and Defense end market delivered 14% year-on-year revenue growth in the second quarter of 2026 with a healthy improvement in backlog, which Roks attributed to alignment with projected priority defense programs.
The deal fits a broader pattern of prime contractors and hardware suppliers buying their way into higher-value, mission-specific technology. Booz Allen Hamilton's acquisition of Ultra Mission Solutions, expected to close in Booz Allen's fiscal second quarter of 2027, was framed around similar logic — folding specialized defense-technology capability into a larger platform to reach national security clients through outcomes-based procurement and Foreign Military Sales channels. Motorola Solutions has pursued the same playbook on a smaller scale, closing its Exacom and Hyper acquisitions for a combined $90 million and agreeing to buy Bell Canada's LMR network services business for roughly $500 million, all aimed at deepening its mission-critical communications stack. TTM's move signals that PCB and RF hardware manufacturers now see the same incentive to move up the value chain that services-focused defense contractors have been acting on.
TTM did not disclose expected accretion or specific synergy targets tied to the deal. The company's near-term guidance points to continued momentum independent of the transaction: for the third quarter of 2026, TTM estimated net sales of $1.10 billion to $1.14 billion and non-GAAP net income of $1.21 to $1.27 per diluted share, with full-year 2026 net sales expected to reach approximately $4.4 billion.