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Subsequent Events
12 Months Ended
Dec. 29, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Micropac
On December 30, 2024, the Company acquired Micropac Industries, Inc. (“Micropac”) for approximately $57.6 million in cash, net of cash acquired, and subject to certain adjustments. Micropac, founded in 1963 and headquartered in Garland, Texas designs and manufactures microelectronic circuits, optoelectronic components, and sensor and display assemblies, primarily for military, aerospace, and medical applications. Micropac will be part of the Aerospace & Defense Electronics segment. The Company funded the acquisition from cash on hand.
Qioptiq and Advanced Electronics Systems businesses
On February 3, 2025, the Company acquired select aerospace and defense electronics businesses of Excelitas Technologies Corp. for approximately $700.3 million in cash, net of cash acquired, and subject to certain adjustments. The acquisition includes the Optical Systems (OS) business known under the Qioptiq® brand based in Northern Wales, UK, as well as the United States based Advanced Electronic Systems (AES) business. The OS and AES businesses will be part of the Aerospace and Defense Electronics segment. The Company funded the acquisition from available borrowings on the credit facility as well as cash on hand.