Shield agreed to acquire radar maker Echodyne in a transaction valued at US$5.3 billion. The defense technology company is raising US$2.5 billion to support the deal. It builds autonomy software and autonomous systems.
Financing terms
Disruptive and Innovation X Capital co-led the Series H round. Shield is raising US$1 billion in equity at a US$28.8 billion post-money valuation. The financing also includes US$1 billion from Blackstone funds and US$500 million in debt led by JPMorgan Chase.
Customers and leadership
Both companies said they expect triple-digit revenue growth this fiscal year. Echodyne radars are used by defense, government, and commercial customers in more than 40 countries. Echodyne CEO Eben Frankenberg will report directly to Shield CEO Gary Steele.
Radar technology
Echodyne builds compact solid-state radars using its MESA technology. The radars detect, track, and defeat drones in counter-drone systems. Civilian operators use them to protect airports and stadiums from unauthorized drones.
The acquisition is expected to close in early 2027. It remains subject to regulatory approvals and other customary closing conditions. Echodyne will continue selling MESA radars as standalone products.