Shield today announced it has entered into a definitive agreement to acquire Echodyne Corp., an industry-leading radar company, in a transaction valued at $5.3 billion. Echodyne radars are built into hundreds of counter-drone and security systems used by defense, government and commercial customers in more than 40 countries. Both companies expect triple-digit revenue growth this fiscal year.

Shield is raising $2.5 billion to support the transaction, including $1 billion in Series H funding at a $28.8 billion post-money valuation, a $1 billion structured equity investment from funds managed by Blackstone and $500 million in debt financing led by JPMorgan Chase Bank, N.A. as Sole Arranger. Of the $5.3 billion transaction value, $4.8 billion will be paid and issued at closing and up to an additional $500 million is contingent on Echodyne meeting agreed performance targets.

The Series H is co-led by Disruptive and Innovation X Capital, with participation from Advent, the Strategic Investment Group of JPMorganChase's Security and Resiliency Initiative, Snowpoint Ventures, Apandion, Center15 Capital, and others. Series H proceeds will be used principally to fund the acquisition.

Founded in 2015, Shield is a defense technology company with the mission of protecting service members and civilians with intelligent systems. Its products include Hivemind autonomy software, V-BAT and X-BAT autonomous systems, and Aechelon simulation and synthetic reality technologies.