San Diego - Paul Hastings LLP, a leading global law firm, announced today that the firm represented Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading national security solutions provider, in connection with its acquisition of an 80.1% interest in Florida Turbine Technologies, Inc. and an 80.1% interest in FTT CORE, LLC, leading technology companies and innovation leaders in advanced turbine engines, with an option to acquire the remaining 19.9% of each entity at a future date. The purchase price was $33 million in cash and $27 million in Kratos’s common stock, or $60 million.
Corporate partner Teri O’Brien led the Paul Hastings team, which also included senior associate Melissa Garcia and associates Melissa Sampson and Riley Millender.
Kratos Defense & Security Solutions, Inc. develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training and combat systems. The acquired business will be part of the new Kratos Turbine Technologies (KTT) Division, which will be focused on the development and production of small, affordable, high-performance, jet engines for the next generation of tactical weapon systems and tactical jet UAS.
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.