Mirus Capital Advisors Advises Popoto Modem on its sale to Anduril Industries

Transaction highlights Mirus’ deep experience guiding founder-owned technology companies through transformational opportunities

BURLINGTON, MASS., October 8, 2026 – Mirus Capital Advisors, one of New England’s largest independent middle-market investment banks, has advised Popoto Modem, a developer of underwater acoustic communications technology, on its sale to Anduril Industries, a leading defense technology company. The Mirus deal team was led by Rudy Minar (Partner), Alan Fullerton (Chairman & CEO), and Andy Camposeo (Director). The terms of the transaction were not disclosed. Mirus Capital Advisors was the exclusive financial advisor to Popoto Modem on this transaction.

Based in Sandwich, MA, Popoto Modem designs and builds affordable software-defined underwater acoustic modems that address the evolving requirements of defense, autonomous systems, oceanographic research, and commercial marine applications. Its technology adapts in real time to changing underwater conditions, correcting for signal distortion, echoes and vehicle motion, and supports multi-node mesh networks that let autonomous vehicles communicate with each other, with surface vessels and with the broader fleet at the same time.

Anduril has worked with Popoto for over a year, integrating its modems into several of its maritime systems, including the Copperhead family of autonomous underwater vehicles (AUV). The acquisition will accelerate Anduril’s efforts to develop, produce, and deploy a fleet of autonomous underwater systems. Popoto Modem brings flexible, agile acoustic hardware to the software and platforms Anduril has already built, allowing the company to deliver more capable undersea systems to customers faster.

“Our team has spent years on one hard problem: reliable, affordable communication beneath the water’s surface,” said James DellaMorte, Founder and Owner of Popoto Modem. “Anduril has the complementary manufacturing scale, global customer access, and adjacent technologies to accelerate adoption of the Popoto platform while creating value beyond what is achievable by either organization independently. Mirus understood our technology and our goals and guided us through a process that delivered the right partner.”

“Popoto Modem reflects the kind of specialized engineering talent that thrives in New England’s closely-held companies,” said Rudy Minar, Partner with Mirus Capital Advisors. “John, James and their team have built differentiated technology that a leading defense innovator has already put to work in the field. In Anduril, they have found a partner with the resources to bring that capability to scale.”

“It is a privilege to have advised Popoto Modem on such an exciting technology transaction,” said Alan Fullerton, Chairman and CEO of Mirus Capital Advisors. “We are grateful to the company’s founders for trusting Mirus with this important transaction. They built a remarkable business, and we were proud to help them partner with a company that shares their commitment to the mission.”