Electro Optic Systems completes acquisition of counterdrone maker MARSS Group

The news: Electro Optic Systems has completed its acquisition of counterdrone company MARSS Group after raising additional capital to support the deal.

The numbers: The deal included an upfront cash payment of USD36 million ($50.4 million) as well as an earnout component worth €140 million ($227.71 million).

The context: Electro Optic Systems launched a $175 million raise through an institutional placement and share purchase plan to support an increase in the earnout component of the deal after a series of contract wins for MARSS Group.