Kratos Completes Acquisition of Satellite Antenna Manufacturer ASC Signal from CPI

Rhea-AI Summary

On June 30, 2020, Kratos Defense & Security Solutions (Nasdaq: KTOS) announced the acquisition of CPI ASC Signal Division Inc., enhancing its space ground systems business. The acquisition, finalized after receiving regulatory approval, adds market-leading earth station antennas, crucial for government and commercial communications. ASC's product range includes radar antennas for air traffic control and specialty antennas. Kratos aims to leverage this acquisition to expand its satellite communications offerings and bolster its position in the national security sector.

Positive

• Acquisition enhances Kratos' space ground systems business.
• Addition of market-leading earth station antennas for government and commercial use.
• Broadens product range to include radar antennas and specialty antennas.

Negative

• None.

SAN DIEGO, June 30, 2020 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has completed its acquisition of CPI ASC Signal Division Inc. (ASC) from Communications & Power Industries LLC (CPI) following the receipt of regulatory approval from all required government authorities and completion of other closing items.

The acquisition broadens Kratos’ space ground systems business with the addition of market-leading earth station antennas that are an important part of government strategic and tactical communications, especially for defense and intelligence operations, and are also used widely in the commercial world. ASC products also include radar antennas for air traffic control and weather applications, as well as High-Frequency (HF) and specialty antennas. Kratos’ space business offers a wide variety of products and solutions across the satellite ground segment, including RF infrastructure, systems management and mission assurance products.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 29, 2019, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

FAQ

What is the purpose of Kratos' acquisition of CPI ASC Signal Division?

The acquisition aims to enhance Kratos' space ground systems business by adding market-leading earth station antennas and expanding its product offerings.

When was the acquisition of CPI ASC Signal Division completed?

The acquisition was completed on June 30, 2020, following the receipt of regulatory approvals.

How will the acquisition impact Kratos' position in the market?

The acquisition is expected to strengthen Kratos' position in the national security sector and broaden its offerings in satellite communications.

What types of products does ASC provide?

ASC provides market-leading earth station antennas, radar antennas for air traffic control, and specialty antennas.