TTM Technologies to acquire Telephonics Corporation for $330 million in cash

TTM TECHNOLOGIES INC

Purchase price $330M cash for Telephonics from Griffon Corporation; expected close in Q2 2022
Transaction expected to be immediately accretive to non-GAAP EPS; $12M pre-tax cost synergies by end of 2024
Financed with cash on hand; TTM had $537.7M cash at end of FY2021
Aerospace & Defense revenue projected to grow to ~40% of total, or approximately $1 billion
Addition of RF-based integrated systems engineering talent; deepens relationships with defense customers

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