Shield has entered into a definitive agreement to acquire Echodyne Corp., in a transaction valued at USD 5.3 billion.
Echodyne radars are built into counter-uncrewed aerial systems (C-UAS) platforms and security systems used by defence, government and commercial customers in more than 40 countries. The company’s compact, solid-state radars use its patented Metamaterials Electronically Scanned Array (MESA) technology.
In September, Echodyne received a contract with a USD 250 million ceiling from the United States’ Joint Interagency Task Force 401 to supply C-UAS radar to US and allied forces.
Echodyne’s team will remain in place, with MESA radars remaining available as standalone products.
The Echodyne acquisition would also extend Shield’s presence in Washington. Based in Kirkland, Washington, Echodyne recently opened an 86,350-square-foot manufacturing facility, which the company says will be able to produce about 30,000 radars per year.
Shield is raising USD 2.5 billion to support the transaction, including USD 1 billion in Series H funding at a USD 28.8 billion post-money valuation, a USD 1 billion structured equity investment from funds managed by Blackstone and USD 500 million in debt financing led by JPMorgan Chase Bank, N.A. as Sole Arranger. Of the USD 5.3 billion transaction value, USD 4.8 billion will be paid and issued at closing and up to an additional USD 500 million is contingent on Echodyne meeting agreed performance targets.
The Series H is co-led by Disruptive and Innovation X Capital, with participation from Advent, the Strategic Investment Group of JPMorganChase’s Security and Resiliency Initiative, Snowpoint Ventures, Apandion, Center15 Capital and others. Series H proceeds will be used principally to fund the acquisition.
The acquisition is expected to close in early 2027, subject to receipt of applicable regulatory approvals and satisfaction of other customary closing conditions.
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Image: Echodyne
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