Mercury Systems buys Atlanta Micro

Mercury Systems announced today it has bought Norcross, GA-based radio frequency module and component maker Atlanta Micro.

Atlanta Micro builds advanced monolithic microwave integrated circuits (MMICs) used in high-speed data acquisition applications including electronic warfare, radar and weapons.

Under the terms of the purchase agreement, Mercury acquired Atlanta Micro for all cash, subject to net working capital and net debt adjustments, according to the Mercury announcement.

"The acquisition and associated transaction expenses were funded through Mercury’s existing revolving credit facility. The acquisition is expected to have a non-material financial impact in Mercury’s second fiscal quarter ending December 31, 2021," Mercury said.

"The acquisition of Atlanta Micro, our fourth transaction in 12 months and 15th since our fiscal [year] 2014, continues our strategy of supplementing organic growth with disciplined [mergers and acquisitions] and full integration," Mark Aslett, Mercury's president and CEO, said in the statement. “The acquisition directly supports our stated goal to provide next-generation trusted microelectronics capabilities for critical aerospace and defense applications. Atlanta Micro's state-of-the-art MMIC capabilities expand our prior investments in the RF and microwave domain, enabling us to both provide best-in-class solutions for our customers and to address new markets through our combined expertise. We see strong alignment in our strategies and vision, as well as our cultures, values, and commitment to innovation."