TTM Technologies, Inc. to Acquire Telephonics Corporation
SANTA ANA, Calif., April 18, 2022 (GLOBE NEWSWIRE) -- TTM Technologies, Inc. (NASDAQ: TTMI) (“TTM”) announced today that it has agreed to acquire Telephonics Corporation (“Telephonics”) for approximately $330 million in cash from Griffon Corporation (NYSE: GFF). Telephonics, founded in 1933, is recognized globally as a leading provider of highly sophisticated intelligence, surveillance and communications solutions that are deployed across a wide range of land, sea and air applications.
- SANTA ANA, Calif., April 18, 2022 (GLOBE NEWSWIRE) -- TTM Technologies, Inc. (NASDAQ: TTMI) (TTM) announced today that it has agreed to acquire Telephonics Corporation (Telephonics) for approximately $330 million in cash from Griffon Corporation (NYSE: GFF).
- 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, said Tom Edman, CEO of TTM.
- TTM believes that significant additional revenue and cost synergies will result from other integration efforts over a longer period of time.
- TTM will host a conference call on Monday, April 18th, 2022 at 4:30 PM Eastern Time to discuss the combination.