M&A Deal Summary

Northrop Grumman Acquires Fibersense Technology

On December 18, 2002, Northrop Grumman acquired technology hardware company Fibersense Technology from Audax Private Equity for 44M USD

Acquisition Highlights
  • This is Northrop Grumman’s 1st transaction in the Technology Hardware sector.
  • This is Northrop Grumman’s 9th largest (disclosed) transaction.
  • This is Northrop Grumman’s 8th transaction in the United States.
  • This is Northrop Grumman’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2002-12-18
Target Fibersense Technology
Sector Technology Hardware
Buyer(s) Northrop Grumman
Sellers(s) Audax Private Equity
Deal Type Add-on Acquisition
Deal Value 44M USD

Target

Fibersense Technology

Canton, Massachusetts, United States
Fibersense Technology Corp., is a designer and manufacturer of fiber optic gyroscope-based navigation systems.

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Buyer(S) 1

Buyer

Northrop Grumman

Falls Church, Virginia, United States
Category Company
Founded 1939
Sector Aerospace
Employees101,000
Revenue 39.3B USD (2023)
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 STATS #
Overall 10 of 21
Sector (Technology Hardware) 1 of 2
Type (Add-on Acquisition) 7 of 15
State (Massachusetts) 1 of 1
Country (United States) 8 of 17
Year (2002) 2 of 2
Size (of disclosed) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-12-12 VEAM/TEC/ Northrop Grumman

United States

Founded in 1936, VEAM/TEC has an excellent reputation for providing customized connector solutions within a product portfolio that includes composite plastic circulars, fiber optics, high-density rectangular and high power/high voltage connectors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-24 XonTech

Van Nuys, California, United States

XonTech, Inc., a science and technology firm specializing in missile defense, and sensor and intelligence data analysis. The acquisition boosts the company's missile defense capabilities.

Buy -

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 1 of 102
Sector (Technology Hardware) 1 of 2
Type (Add-on Acquisition) 1 of 35
State (Massachusetts) 1 of 8
Country (United States) 1 of 97
Year (2002) 1 of 1
Size (of disclosed) 21 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-01 nash_elmo Holding

Trumbull, Connecticut, United States

The Nash Engineering Company, a family-owned company based in Trumbull, CT, and elmo vacuum technology GmbH, a division of Siemens AG based in Nuremberg, Germany. The transaction creates a global organization with more than 200 years of combined operating history. The company?s products include liquid ring vacuum pumps, side channel blowers, and a variety of other pumps, compressors, and industrial equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-05-01 Newfold Digital

Jacksonville, Florida, United States

Newfold Digital is a provider of shared web hosting services to small businesses. Newfield Digital helps customers of all sizes build a digital presence that delivers results. Newfold Digital has extensive product offerings and personalized support with customers to serve their online presence needs. Newfold Digital was founded in 1997 and is based in Jacksonville, Florida.

Buy -
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