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Get filing alertsTTM Technologies completes $1.1B cash acquisition of Epiq Solutions, funded by new debt
Filed September 30, 2026 · Period ending September 30, 2026 · ~1 min read
Key Changes
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TTM Technologies completed its acquisition of Epiq Solutions, a provider of software-defined radios, RF products, and space compute solutions for defense and intelligence applications.
Item 7.01 verify on EDGAR → -
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The all-cash purchase price was approximately $1.1 billion, subject to customary working capital and other adjustments.
Item 7.01 verify on EDGAR → -
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Funding came from a new $300 million incremental term loan A, an $800 million seven-year incremental term loan B, and proceeds from the company's 6.750% senior notes due 2034.
Item 8.01 verify on EDGAR → -
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The acquisition is expected to be immediately accretive to adjusted EBITDA, moderately dilutive to non-GAAP diluted EPS in 2027, and accretive in 2028.
Exhibit 99.1 view on EDGAR → -
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The new term loans are guaranteed by all domestic subsidiaries, including Epiq Solutions, and secured by a first priority interest in substantially all assets.
Item 8.01 verify on EDGAR →
Summary
TTM Technologies closed its previously announced acquisition of Epiq Solutions on September 30, 2026, paying approximately $1.1 billion in cash. Epiq is a provider of open-architecture, AI-enabled software-defined radios, high-performance RF products, and radiation-tolerant space compute solutions for mission-critical signals intelligence and electronic warfare applications.
The deal expands TTM's Aerospace & Defense portfolio and supports its vertical integration strategy across land, air, sea, and space domains. The acquisition was funded through a combination of new debt: a $300 million incremental term loan A, an $800 million seven-year incremental term loan B, and proceeds from the company's 6.750% senior notes due 2034.
The new term loans are guaranteed by all domestic subsidiaries and secured by substantially all assets. TTM expects the acquisition to be immediately accretive to adjusted EBITDA, moderately dilutive to non-GAAP diluted EPS in 2027, and accretive in 2028. For retail investors, this is a significant strategic move that adds complementary technology and expands TTM's defense and intelligence capabilities. The near-term EPS dilution reflects integration costs and financing expenses, but the company projects accretion by 2028. The increased debt load is a key consideration, though the filing does not disclose specific covenant changes or pricing details beyond the stated interest rate on the notes.
Section-by-Section Diff
Event · Item 2.03 — Creation of a Direct Financial Obligation
Item 2.03 also reports this as a direct financial obligation (body incorporates the primary Item by reference).
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Item 2.03.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosures above under Item 1.01 of this Report are also responsive to this Item 2.03 and are hereby incorporated by reference into this Item 2.03
The company also filed this under Item 2.03, which means it is reporting the arrangement as a direct financial obligation. The Item 2.03 text refers back to the Item 1.01 entry for the terms rather than restating them.
Event · Item 1.01 — Entry into a Material Definitive Agreement
TTM Technologies entered into a material definitive agreement in connection with completing an acquisition.
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In connection with the completion of the Acquisition (as defined and discussed below in
The company entered into a material definitive agreement related to completing an acquisition. The filing references an 'Acquisition' but the body text provided is truncated, so specific terms, parties, and financial details are not available in this excerpt.
Event · Item 8.01 — Other Events
TTM Technologies entered into a Third Amended and Restated Credit Agreement adding $1.1B in incremental term loans to fund an acquisition.
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on September 30, 2026 (the “Closing Date”), TTM Technologies, Inc. (the “Company”) entered into the Third Amended and Restated Credit Agreement
The Company entered into a new credit agreement on September 30, 2026, which amends and restates its prior credit agreement. This is a material financing event.
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provides for (i) an incremental senior secured term loan A facility in an aggregate principal amount of $300 million (the “Term A Incremental Facility”) and (ii) a seven-year incremental senior secured term loan B facility in an aggregate principal amount of $800 million (the “Term B Incremental Facility” and, together with the Term A Incremental Facility, the “Incremental Facilities”)
The new agreement adds $300 million in Term A loans and $800 million in seven-year Term B loans, totaling $1.1 billion in new debt. The proceeds were used to fund an acquisition. Note: these figures were previously disclosed in the company's Aug 17, 2026 8-K.
Added in current filing · verify on EDGAR →
On the Closing Date, the Incremental Facilities were funded in connection with the completion of the Acquisition, and the proceeds were used as discussed below in Item 8.01.
The new loans were funded on the closing date and used to complete an acquisition. Details of the acquisition are discussed in Item 8.01 of the filing.
Added in current filing · verify on EDGAR →
The representations and warranties, affirmative and negative covenants and events of default applicable to the Incremental Facilities are generally the same as those applicable to the existing loans under the Prior Credit Agreement, subject to differences in pricing and certain other facility-specific terms.
The new facilities have substantially the same covenants and events of default as the existing loans, with differences mainly in pricing and facility-specific terms. This suggests the new debt is on similar terms to the prior credit agreement.
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
the Company completed its previously announced acquisition of all of the issued and outstanding membership interests of Epiq Solutions (the “Acquisition”). As a result of the Acquisition, Epiq Solutions became a wholly-owned subsidiary of the Company.
TTM Technologies closed its acquisition of Epiq Solutions, making it a wholly-owned subsidiary. The deal was previously announced and is now complete.
Added in current filing · verify on EDGAR →
The consideration paid by the Company was approximately $1.1 billion in cash, subject to customary working capital and certain other adjustments (the “Purchase Price”).
The company paid about $1.1 billion in cash for Epiq Solutions, with standard post-closing adjustments possible.
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The Company used approximately $1.1 billion from (i) a portion of the proceeds of borrowings under the Incremental Facilities and (ii) a portion of the proceeds from the previously disclosed completed offering of the Company’s 6.750% senior notes due 2034 to fund the Purchase Price and pay fees and expenses related to the Acquisition.
The acquisition was funded with borrowings under incremental credit facilities and proceeds from a 6.750% senior notes offering due 2034.
Event · Exhibit 99.1
TTM Technologies completed its $1.1B all-cash acquisition of Epiq Solutions, funded by new term loans and senior notes.
Added in current filing · view on EDGAR →
The purchase of Epiq was completed as an all-cash transaction for $1.1 billion, subject to certain customary adjustments at closing.
TTM paid $1.1 billion in cash for Epiq, subject to customary closing adjustments. This is a significant acquisition for the company.
Added in current filing · view on EDGAR →
Financial contributions from the newly acquired Epiq business are expected to be immediately accretive to adjusted EBITDA, moderately dilutive to non-GAAP diluted EPS in 2027, and accretive to non-GAAP diluted EPS in 2028.
TTM expects the Epiq acquisition to be immediately accretive to adjusted EBITDA, but moderately dilutive to non-GAAP diluted EPS in 2027 before becoming accretive in 2028. This reflects integration costs and financing expenses in the near term.
Added in current filing · view on EDGAR →
Accelerated momentum to TTM’s “up the chain” vertical integration strategy across land, air, sea, and space domains through multiple defense and commercial expansion opportunities;
The acquisition supports TTM's vertical integration strategy across defense and commercial markets, adding capabilities in RF spectrum control and software-defined solutions. This aligns with the company's long-term growth strategy in Aerospace & Defense.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 1, 2026 · How we verify