Telephonics provides defence electronic solutions to the US and other allies. Representative Image. Credit: U.S. Army photo by Staff Sgt. Ashley M. Morris/ Fort Drum & 10th Mountain Division (LI) / Flickr. (Creative Commons)

TTM Technologies has entered into an agreement to acquire Telephonics Corporation from Griffon Corporation, for $330m in cash.

Founded in 1933, Telephonics focuses on delivering intelligence, surveillance, and communications solutions for land, sea, and air applications. The company provides defence electronic solutions to the US and other allies.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The acquisition is expected to expand TTM’s aerospace and defence (A&D) product portfolio and increase international A&D customers. It will also improve TTM’s position in radar systems.

TTM CEO Tom Edman said: “I am excited for Telephonics to join TTM as we continue on our journey to move up the value chain and provide more engineered products to our offering for our customers.

“We expect that the complementary portfolio and skills will enhance TTM’s strategic capabilities and growth opportunities, enabling us to deliver significant benefits to our aerospace and defence customers. We also expect the transaction to be immediately accretive to our non-GAAP EPS.”

The divestment of Telephonics will strengthen Griffon’s balance sheet, and will enable it to focus on core businesses.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Griffon chairman and CEO Ronald J. Kramer said: “Telephonics is a well-regarded and trusted provider of defence electronics for the US and its allies, with a seasoned leadership team and outstanding employees.

“We appreciate Telephonics’ long heritage as a part of Griffon, and we are confident the business will flourish as part of TTM.”

The transaction is expected to close in the second quarter of this year, subject to customary closing conditions and regulatory approvals.