(Reuters) -The Firefly Aerospace space technology firm will acquire the National Security Technology Company SCITEC for around $ 855 million.
The agreement, which will be financed through a combination of $ 300 million in cash and $ 555 million in Firefly shares, will close for the end of the year, said Firefly.
In August, the firm based in Texas Firefly obtained an assessment of $ 9.84 billion after its shares increased 55.6% in its debut in Nasdaq, as investors continue to pour capital into companies that help the expansion of the United States space and defense program.
Princeton’s Firefly acquisition, based in Jersey, Scitec will improve its space services by integrating SCITEC defense software analysis into its systems, the company said.
The Central SCITEC capabilities, which cover missile warning, monitoring and defense, intelligence, surveillance among other elements, will reinforce existing launch services, lunar and in the Firefly space.
Once the agreement is closed, SCITEC will be operated as a Luchérnaga unit under Jim Lisowski, its current CEO.
The increase in geopolitical tensions and the deterioration of international relations have highlighted space and defense contractors. The agreement would help Firefly strengthen its position as a space technology company that drives its lucrative military space perspectives.
Firefly has traveled a long road since a tumultuous past, including bankruptcy in 2017 and an Oter CEO last year.
(Gursimran Kaur report in Bengaluru; Diane Craft and Chizu Nomiyama edition)
(Tagstotranslate) Firefly Aerospace (T) SCITEC (T) Space Services (T) National Security (T) Texas headquarters