Delta Microwave, Inc. (“Delta”), a leading designer and manufacturer of high-value radio frequency (“RF”), microwave and millimeter wave subassemblies and components for the military and space markets, has been acquired by Mercury Systems, Inc. (“Mercury”, NASDAQ: MRCY). Philpott Ball & Werner, LLC (“PB&W”) served as investment banker to Delta.

Headquartered in Oxnard, California, Delta’s products boast market-leading low size, weight and power (“SWaP”), providing leading signal performance and efficiency. Delta’s products are routinely selected over competitors due to their compact and complex packaged form factors and integrated functionality. The company is unique in its ability to integrate high performance filter and amplifier configurations into one package.

Mercury is a leading commercial provider of secure sensor, mission processing subsystems and next-generation defense electronics used in a wide variety of critical defense and intelligence programs.

“The acquisition of Delta Microwave is an excellent fit for our market and content expansion strategy,” said Mark Aslett, Mercury’s President and Chief Executive Officer. “Their strengths in high-power, high-frequency active and passive microwave components and subassemblies – particularly in GaN solid-state power amplifiers – are driving strong backlog and growth. These new capabilities add scale and breadth to Mercury’s existing RF, microwave and millimeter wave portfolio, expand our addressable market into satellite communications (“SatCom”), datalinks and space launch – markets that are well-aligned with Mercury’s existing market focus – and deepen our penetration into our core radar, electronic warfare (“EW”), and precision-guided munitions markets.”

“Additionally, Delta has a strong position on a number of franchise U.S. and international defense programs such as F-35, Paveway, MALD and Rivet Joint that complement Mercury’s presence. They have strong relationships with space OEMs, supplying future manned spaceflight missions as well as military and commercial satellite programs, representing a new growth area for Mercury. In summary, like our previous acquisitions in the RF and microwave domain, the acquisition of Delta doesn’t just provide important new capabilities for our customers; it also enables us to grow the size of our total addressable market. We are very pleased to welcome the Delta team to Mercury,” Aslett concluded.

Mercury acquired Delta for $40.5 million in cash, subject to net working capital and net debt adjustments. For more information about this transaction, please contact Erik Appareti at or Nick Berry at