Veritas Capital has agreed to sell Epiq Design Solutions to TTM Technologies for $1.1bn, closing out a four-year hold. Founded in 2009, Epiq supplies specialized radio technology to commercial, government, and defense customers. Its open-architecture, software-defined radios and embedded computing systems are built to be rapidly deployable and energy-efficient. TTM Technologies, the Nasdaq-listed buyer, is a global manufacturer of technology products.

Since acquiring Epiq in 2022, Veritas supported organic product development while executing two acquisitions, Xiphos Systems and Cyber Radio Solutions, which took the company into space-based computing and reinforced its high-performance radio-frequency capabilities. Those moves widened Epiq's addressable markets and positioned it to support more complex missions across air, land, sea, and space.

"The Epiq partnership underscores Veritas' commitment to growing and adding lasting value to mission-critical businesses in the aerospace and defense industries," said Jeffrey Wu, a Partner on the Vantage private equity team at Veritas Capital. He added that the management team "successfully executed on our strategic growth plan while maintaining the delivery of outstanding solutions to customers and a relentless commitment to excellence."

For Epiq's management, the sale marks a change of owner. "Over the last four years, we had the opportunity to leverage Veritas' deep expertise and network at the intersection of technology and government, enabling Epiq to evolve its platform to address mission-critical demands across ground, air, maritime, and space environments," said John Orlando, chief executive of Epiq. He said the company looked forward to partnering with TTM "as we enter our next phase of growth."