1Shield to acquire Echodyne in a transaction valued at $5.3 billion and raise $2.5 billion at a $28.8 billion valuationshield.aiHigh11·05 16:28Z
Shield announced on November 5 a definitive agreement to acquire Echodyne Corp., a radar and counter-drone technology company, in a transaction valued at $5.3 billion1. To fund the deal, Shield is raising $2.5 billion, comprising $1 billion in Series H funding at a $28.8 billion post-money valuation, a $1 billion structured equity investment from Blackstone-managed funds, and $500 million in debt financing led by JPMorgan Chase. Of the total transaction value, $4.8 billion is payable at closing, with up to $500 million contingent on Echodyne meeting performance targets. CEO Gary Steele said Shield is building a defense technology company across three business units: autonomy software, autonomous systems, and mission systems.