04:33 PM EDT, 07/08/2024 (MT Newswires) -- ESCO Technologies ( ESE ) said Monday it agreed to buy Ultra Maritime's Signature Management & Power business for $550 million.

The deal will be funded with cash and debt with committed financing in place, ESCO ( ESE ) said.

Signature Management & Power provides services for submarines and ships in the US and UK naval defense markets, ESCO ( ESE ) said.

ESCO ( ESE ) shares rose 5% in recent after-hours trading.

Price: 107.79, Change: +5.13, Percent Change: +5.00