TTM Technologies Signs Definitive $1.1B All-Cash Deal to Acquire Epiq Solutions
TTMI has more than doubled off its 52-week low of $39.2.
Summary
TTM Technologies signed a definitive agreement to acquire Epiq Solutions for $1.1 billion in cash, backed by committed financing, expanding its defense RF and software-defined radio capabilities.
Key Events · M&A and Partnerships · TTMI
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Definitive $1.1B Acquisition Agreement
On August 15, 2026, a definitive securities purchase agreement was signed to acquire Epiq Solutions for $1.1 billion in cash, subject to working capital adjustments.
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Committed Debt Financing Secured
JPMorgan, Barclays, and Bank of America committed to provide a $300M Term A facility and an $800M Term B facility to fund the acquisition and refinance Epiq's existing debt.
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Financial Accretion Expected
The deal is expected to be immediately accretive to Adjusted EBITDA margin and accretive to Non-GAAP Diluted EPS during 2028, with a synergy-adjusted multiple of 17.4x expected 2027 EBITDA.
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Leverage and Deleveraging Plan
Total net leverage is estimated at 2.3x at close, with a plan to reduce to 1.5x-1.7x within 12-18 months through strong EBITDA generation and cash flow.
Analysis · TTMI · Manufacturing
A transformative $1.1 billion cash acquisition of Epiq Solutions has been locked in by TTM Technologies, broadening its defense electronics portfolio into software-defined radios and RF spectrum dominance. Committed debt financing of $1.1 billion from JPMorgan, Barclays, and Bank of America backs the deal, with immediate accretion to Adjusted EBITDA margin expected and EPS accretion by 2028. A $77 million termination fee applies if regulatory approvals fail, and leverage is projected at 2.3x at close, deleveraging to 1.5x-1.7x within 12-18 months. This strategic move follows TTM's strong Q2 results and aligns with its vertical integration strategy in high-priority defense markets.
At the time of this filing, TTMI was trading at $143.09 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $14.7B. The 52-week trading range was $39.20 to $223.83. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.