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Epiq Solutions Completes Acquisition of Xiphos Systems to Drive Innovation in Space

PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.
January 12, 2023 GMT

ROLLING MEADOWS, Ill. & MONTREAL--(BUSINESS WIRE)--Jan 12, 2023--

Epiq Solutions (“Epiq”), a portfolio company of The Veritas Capital Vantage Fund, L.P. (“Vantage Fund”), and leading provider of software defined radio (“SDR”) and turnkey radio frequency (“RF”) solutions for governments and enterprises, today announced the completion of its acquisition of Xiphos Systems Corporation (“Xiphos”), a provider of high-performance, space-focused computing solutions. Financial terms were not disclosed.

For over 25 years, Xiphos has provided highly reliable and resilient embedded processing solutions, powering over 80 space missions and constellations and supporting nanosat, cubesat, and lunar markets in the U.S. and internationally. Through the acquisition of Xiphos, Epiq will add domain expertise in high-performance processing for use in space environments to its industry-leading small form factor SDR and RF sensing offerings. Together, both companies will provide a broader range of low power, performance-optimized, open architecture computing solutions for mission-critical, multi-domain defense and commercial applications.

Xiphos will join the Epiq platform and maintain its brand name. The Company will continue to address its existing markets and operate out of its headquarters in Montreal, Quebec under its current leadership team led by President and Director of Business Development, Edwin Faier.

“This transaction brings together two highly complementary, mission-focused businesses with proven track records of delivering uniquely capable small form factor sensing, processing, and communication solutions across a breadth of deployment domains,” said John Orlando, CEO of Epiq. “Xiphos is a leader in control and hybrid, image, and signal processing with a heritage brand that customers trust and respect. We are thrilled to join forces with the talented team at Xiphos to build upon our differentiated capability and expand our cutting-edge terrestrial solutions into space environments.”

“Today’s announcement is a testament to the hard work and dedication of the entire Xiphos team and marks an exciting next chapter of growth for our company,” said Faier. “It is clear both companies have a shared culture of innovation and passion for providing best-in-class solutions while also pushing the boundaries of what’s possible, providing high-performance in demanding, mission-critical environments in the smallest possible form factor. We look forward to partnering with Epiq to continue to drive innovation, while supporting the constantly evolving missions of our customers through off-the-shelf and custom computing solutions with high-end performance at affordable costs.”

Latham & Watkins LLP served as legal counsel to Epiq and Veritas. Blake, Cassels & Graydon LLP served as legal counsel to Xiphos and Philpott Ball & Werner, LLC served as financial advisor to Xiphos.

About Epiq Solutions

Epiq Solutions develops cutting edge RF tools that provide situational awareness and detailed insight into RF environments. With more than a decade serving governments and enterprises, and thousands of devices fielded, Epiq Solutions understands speed, cost, and performance for mission-critical applications. Epiq’s radically small, state-of-the-art software defined radio solutions and turnkey RF tools lead the way in minimizing size, weight, and power consumption. For more information, visit www.epiqsolutions.com.

About Xiphos Systems Corporation

Established in 1996, Xiphos Systems Corporation has cemented its reputation over more than two decades as a leader in control and hybrid, image, and signal processing. Through its use of industrial-grade components in a fault-tolerant architecture for deployment in harsh environments, Xiphos has delivered customizable, high-performance computing solutions, producing highly reliable and resilient performance in uniquely compact form factors and at much lower cost than traditional processors utilized in space applications. For more information, visit www.xiphos.com.

About Veritas Capital

Veritas Capital (“Veritas”) is a longstanding technology investor with over $40 billion of assets under management and a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to the firm. Veritas is a proud steward of national assets, improving the quality of healthcare while reducing cost, advancing our educational system, and protecting our nation and allies.

The Vantage Fund is a $1.8 billion fund targeting opportunities in the middle market. The Vantage Fund seeks to leverage the integrated platform, unique capabilities and demonstrated intellectual property of Veritas. For more information, visit www.veritascapital.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230112005241/en/

CONTACT: For Epiq Solutions:

Gary Schluckbier

gary@epiqsolutions.comFor Xiphos Systems Corporation:

Edwin Faier

esf@xiphos.comFor Veritas Capital:

FGS Global

VeritasCapital@FGSGlobal.com

KEYWORD: UNITED STATES NORTH AMERICA CANADA ILLINOIS

INDUSTRY KEYWORD: PROFESSIONAL SERVICES TECHNOLOGY LEGAL SOFTWARE FINTECH CONSULTING

SOURCE: Epiq Solutions

Copyright Business Wire 2023.

PUB: 01/12/2023 08:00 AM/DISC: 01/12/2023 08:03 AM

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