CHICAGO, August 26, 2016 – Mesirow Financial acted as the exclusive financial advisor to Sypris Solutions (NASDAQ: SYPR) in the divestiture of the Cyber Security Solutions business (“CSS”) of Sypris Electronics to Analog Devices (NASDAQ: ADI).
The CSS business of Sypris Electronics, LLC is a leader in secure system and software products and technology. For more than 50 years, CSS has built a proven track record of delivering high-assurance information security services to the world’s most demanding customers, including military and government organizations needing to protect against sophisticated nation-state level threats and attacks. CSS has unique capabilities in the area of secure radio communications, system hardware and software-based cryptographic technologies and cybersecurity software and services.
Jeffrey T. Gill, president and chief executive officer of Sypris Solutions commented on the transaction, “We are pleased to complete this transaction with Analog Devices. Analog is a global leader in its markets and as a result, will have the ability to accelerate the introduction of the new, ground-breaking cybersecurity technologies and capabilities that we have developed in recent years into a variety of automotive, industrial, aerospace, healthcare, IoT and safe cities applications.”
John Walsh, president of Sypris Electronics also commented, “Our CSS capabilities coupled with ADI’s solutions have the potential to transform the levels of trust that can be achieved in the next generation of secure solutions at the intersection of the physical and digital worlds.”
“We are truly honored to have represented Sypris in this process,” stated Yong-Jae Kim, director of Mesirow Financial’s Investment Banking group. “We believe that this strategic combination will provide Sypris’ CSS business with a global platform to expand its next-generation cyber-physical security solutions for government, industrial, automotive and IoT applications.”
About Sypris Solutions
Sypris Solutions is a diversified provider of outsourced services and specialty products. Sypris Solutions performs a wide range of manufacturing, engineering and other technical services, typically under multi-year, sole-source contracts with corporations and government agencies in the markets for truck components and assemblies and aerospace and defense electronics.
About Analog Devices
Analog Devices (NASDAQ: ADI) designs and manufactures semiconductor products and solutions. ADI enables its customers to interpret the world around us by intelligently bridging the physical and digital with unmatched technologies that sense, measure and connect.
Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow Financial investment vehicle(s). Any offer can only be made to accredited investors and through the appropriate Offering Memorandum. Past performance is not indicative of future results. Mesirow Financial refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates.