EMCORE Corporation, a developer of advanced Mixed-Signal Optics products for UAVs (unmanned aerial vehicles) and other defense & aerospace applications, has announced that it has acquired Systron Donner Inertial, Inc. (“SDI”) from Resilience Capital Partners for approximately $25.8 million. Consideration will be in the form of $22.8 million in cash plus 810,698 shares of EMCORE common stock.
“This acquisition delivers immediate scale to our growing navigation systems product line and positions EMCORE as one of the largest independent inertial navigation providers in the industry. Merging EMCORE’s existing navigation systems product line with SDI’s strong brand, technology and backlog, and program wins, instantly creates a stable, growing, and technically advanced business well-positioned to disrupt market norms,” said Jeff Rittichier, President and CEO of EMCORE.
“SDI provides EMCORE with a scalable, chip-based platform for higher volume gyro applications, while delivering superior performance compared to its competitors. Combining this business into EMCORE will allow us to provide customers with a full product suite that serves a broad range of requirements across both the tactical and navigation grade segments of the market,” concluded Mr. Rittichier.
Highlights of the transaction are as follows:
EMCORE intends to add SDI’s business to its current navigation product line and support these products from facilities in Concord, California.
Through the transaction, EMCORE has acquired all of the outstanding assets and liabilities of SDI, including SDI’s 100,000 square foot production facility in Concord, CA.