Mercury Systems completed its acquisition of the embedded security, RF and microwave and custom microelectronics businesses from Microsemi. Bank of America served as administrative agent for a new $200 million term loan A facility to support the transaction.

Mercury has also put in place a new $100 million revolving credit facility which remains undrawn.

Mercury acquired these businesses for a total purchase price of $300 million, subject to adjustment for certain working capital items. The acquisition and associated transaction expenses were funded with a combination of the term loan A facility and Mercury cash on hand, which includes net proceeds of approximately $94 million from Mercury’s recent issuance of common stock in an underwritten public offering.

“We’re pleased that this transaction was completed on schedule; the next step is executing a seamless integration,” said Mark Aslett, president and CEO of Mercury. “The acquisition is directly aligned with our strategy of expanding our capabilities, services and offerings along the sensor processing chain, and positions Mercury as the defense industry’s largest commercial embedded secure processing company.”

Chelmsford, MA-based Mercury Systems is a commercial provider of secure processing subsystems designed and made in the USA.