Add-on Acquisition • Technology Hardware

Northrop Grumman Acquires Essex

On November 8, 2006, Northrop Grumman acquired technology hardware company Essex from Global Environment Fund for 521M USD

Acquisition Context
  • This is Northrop Grumman’s 2nd transaction in the Technology Hardware sector.
  • This is Northrop Grumman’s 6th largest (disclosed) transaction.
  • This is Northrop Grumman’s 12th transaction in the United States.
  • This is Northrop Grumman’s 3rd transaction in Maryland.

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M&A Deal Summary

Date November 8, 2006
Target Essex
Sector Technology Hardware
Buyer(s) Northrop Grumman
Sellers(s) Global Environment Fund
Deal Type Add-on Acquisition
Deal Value 521M USD

Target Company

Essex

Columbia, Maryland, United States
Essex Corp. is an optical and digital signal processing company developing technologies and systems that enable next-generation products, such as fiber-optic transmission, wireless telecommunications, high-speed optoelectronic processors, and advanced semiconductor chips.
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Buyer Overview 1

Buyer

Northrop Grumman

Falls Church, Virginia, United States

Category Company
Founded 1939
Sector Aerospace
Employees97,000
Revenue 41.0B USD (2024)
DESCRIPTION
Northrop Grumman office in Columbia, Maryland.
Northrop Grumman office in Columbia, Maryland.

Northrop Grumman provides technologically advanced, innovative products, services, and integrated solutions in aerospace, electronics, information and services to our global customers. Northrop Grumman participates in many high-priority defense and government services technology programs in the United States and abroad as a prime contractor, principal subcontractor, partner, or preferred supplier. The Company conducts most of its business with the U.S. Government, principally the Department of Defense (DoD) and intelligence community. Northrop Grumman also conducts business with local, state, and foreign governments and domestic and international commercial customers. Northrop Grumman was formed in 1939 and is based in Falls Church, Virginia.


Deal Context for Buyer #
Overall 14 of 21
Sector: Technology Hardware 2 of 2
Type: Add-on Acquisition 10 of 15
State: Maryland 3 of 3
Country: United States 12 of 17
Year: 2006 1 of 1
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-06 Triumph Aerospace Systems - Newport News

Newport News, Virginia, United States

Newport News Shipbuilding is the sole designer, builder and refueler of U.S. Navy aircraft carriers and one of two providers of U.S. Navy submarines.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Scaled Composites

Mojave, California, United States

Scaled Composites LLC, is an aerospace and specialty composites development company located in Mojave, California., with broad experience in vehicle design, tooling, and manufacturing; specialty composite structure design, analysis and fabrication; and developmental flight test.

Buy -

Seller Profile 1

SELLER

Global Environment Fund

Bethesda, Maryland, United States

Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Global Environment Fund (GEF) is a global alternative asset manager dedicated to the energy, environmental, and natural resources sectors. Global Environment Fund was formed in 1990 and is based in Chevy Case, Maryland.


Deal Context for Seller #
Overall 2 of 23
Sector: Technology Hardware 1 of 2
Type: Add-on Acquisition 1 of 11
State: Maryland 1 of 2
Country: United States 1 of 13
Year: 2006 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-01 Cantaloupe Systems

San Francisco, California, United States

Cantaloupe Systems, Inc. is a provider of cloud-based, mobile technologies that deliver an integrated end-to-end vending retail solution for cashless vending, dynamic route scheduling, automated pre-kitting and merchandising and inventory management.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-01 Greenergy

Budapest, Hungary

Greenergy is a developer, owner, and operator of clean energy facilities. Greenergy is based in Budapest, Hungary.

Buy -