The transaction brings together two companies positioned for growth in the global defense industry
The combined company offers deep expertise and proven solutions in electronic defense and countermeasures, RF systems and components, power electronics and displays, supporting military customers through the most challenging time in decades
The combined companies will have a total of over 500 customers, including over 40 defense industry prime contractors and over 20 global Department of Defense programs
DUBLIN, Calif., Sept. 8, 2022 (GLOBE NEWSWIRE) — Gigatronics Incorporated (“Giga”) GIGA announced today that it had entered into a share swap agreement (“approval“) with BitNile Holdings, Inc. (“BitNile“) NILE and Gresham Worldwide, Inc. (“Gresham“), which will see Giga’s reverse acquisition of Gresham from BitNile. The transaction combines Giga, a maker of sophisticated RADAR and emulation systems for electronic threats and radio frequency (“Rf“) filters, with Gresham, a global provider of proprietary, purpose-built electronic solutions to militaries and leading defense contractors around the world in the areas of RF equipment, power electronics, displays, automated testing and missile launches.
The companies anticipate synergies from the transaction that will allow them to significantly expand their position in the fast-growing market for electronic countermeasures and RF solutions; driven by increased global awareness of the importance of electromagnetic spectrum superiority. Collectively, the companies have over 500 customers, including more than 40 defense industry prime contractors and 20 global Department of Defense programs.
The combined companies had annual revenues of approximately $35.4 million as of March 31, 2022 with an order backlog of $31 million. Gresham recently announced that its new business orders increased from $8.1 million in the first quarter ended March 31, 2022 to over $10.0 million in the second quarter ended June 30, 2022, an increase of over 23%,…
