Veritas Capital has agreed to sell Epiq Solutions to TTM Technologies for $1.1 billion, concluding an investment period in which Epiq expanded from a specialized software-defined radio company into a broader defense RF and embedded computing platform.
The transaction is expected to close by the end of 2026, subject to regulatory approvals and other customary conditions.
Veritas owns Epiq through its Vantage strategy and acquired the business in 2022.
Founded in 2009, Epiq develops specialized radio technologies serving government, defense and commercial customers.
Its technologies include open-architecture software-defined radios and embedded computing platforms used across signals intelligence, electronic warfare, unmanned systems and space applications.
During Veritas’ ownership, Epiq invested in internal product development while also pursuing acquisitions.
The company acquired Xiphos Systems, expanding into space-based computing, and Cyber Radio Solutions, adding high-performance RF capabilities.
Those deals helped broaden Epiq from a small-form-factor software-defined radio specialist into a platform serving missions across air, land, maritime and space environments.
Goldman Sachs served as lead financial advisor, Robert W. Baird served as co-advisor and Latham & Watkins provided legal counsel to Epiq and Veritas.
Veritas manages more than $54 billion of assets and focuses on businesses operating at the intersection of technology and government.
KEY QUOTES:
“Over the last four years, we had the opportunity to leverage Veritas’ deep expertise and network at the intersection of technology and government, enabling Epiq to evolve its platform to address mission-critical demands across ground, air, maritime, and space environments.”
“We thank Veritas for its support and collaboration and look forward to partnering with TTM as we enter our next phase of growth.”
John Orlando, CEO of Epiq
“We are proud to have partnered with Epiq during these past four years, bringing our deep heritage in defense technology to help accelerate its growth, expand its capabilities and position the business for continued success.”
“The Epiq partnership underscores Veritas’ commitment to growing and adding lasting value to mission-critical businesses in the aerospace and defense industries.”
Jeffrey Wu, Partner on the Vantage Private Equity Team at Veritas Capital
