Ultra completes acquisition of the Electronic Products Division of Kratos

24 AUGUST 2015

Further to the announcement made on 1 June 2015, Ultra is pleased to confirm that the acquisition of the Electronic Products Division (“EPD”) of Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) (“Kratos”) for a cash consideration of up to $265m, has now received US regulatory approval and the transaction has been completed[1].

EPD will be renamed Ultra Electronics Herley and operate within the Communications & Security division.

Rakesh Sharma, Chief Executive of Ultra, commented:
“This acquisition is Ultra’s largest to date and the technologies acquired further enhance Ultra’s portfolio and strengthen our position in the EW market. I am pleased that we have completed this acquisition and welcome Herley and its employees into the Ultra Group.”

For further information, please contact:
Ultra Electronics Holdings PLC

Rakesh Sharma, Chief Executive
Mary Waldner, Group Finance Director
+44 20 8813 4300

Susan Ellis, Corporate Affairs Director
+44 7836 522 722

Moelis & Company (Joint Financial Adviser)
Liam Beere / Ed Eppler
+44 20 7634 3500

J.P. Morgan Cazenove (Joint Financial Adviser and Joint Corporate Broker)
Robert Constant / Richard Perelman
+44 20 7742 4000 

[1] Ultra is acquiring Kratos' Electronic Product Division (EPD). EPD has separate Israeli businessesnamed Kratos-General Microwave Israel and Kratos GMI-Eyal, which are not part of this acquisition.