Shield Reportedly Agrees to Acquire Echodyne in $5.3 Billion Deal

Shield has entered a reported agreement to acquire Echodyne Corp. for a transaction valued at up to $5.3 billion. The agreement and its terms have not been independently or officially confirmed in the information provided.

Key details

• The reported deal assigns $4.8 billion in cash or shares at closing, with up to $500 million tied to performance targets.
• Shield is reportedly arranging $2.5 billion in financing: a $1 billion Series H round, $1 billion in structured equity, and $500 million in debt.
• The reported Series H round values Shield at $28.8 billion after the investment and is co-led by Disruptive and Innovation X Capital.
• Echodyne designs and manufactures compact solid-state radar using its MESA technology.
• The report describes Echodyne’s Kirkland, Washington, manufacturing facility as 86,350 square feet, with planned annual capacity of about 30,000 radars.
• Joint Interagency Task Force 401 reportedly awarded Echodyne a counter-drone radar contract with a $250 million ceiling for U.S. and allied forces.
• The report says Echodyne CEO Eben Frankenberg would report to Shield CEO Gary Steele and oversee Echodyne’s products, manufacturing, and partner and customer engagement after closing.

Echodyne’s Kirkland facility covers 86,350 square feet and is designed to produce about 30,000 radars annually.

Why it matters

Echodyne’s products use electronically scanned radar arrays, which steer radar beams electronically rather than relying on a mechanically rotating antenna. The reported facility capacity and government contract describe manufacturing scale and a defense customer alongside the proposed ownership change.