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Firefly Aerospace to Acquire SciTec for $855M, Expanding Defense Portfolio
Summary generated with AI, editor-reviewed
Heartspace News Desk
•Source: Reuters
Photo by Winston Chen on Unsplash
TL;DR
Firefly Aerospace will purchase SciTec for $855 million, comprising $300 million in cash and $555 million in stock, to integrate SciTec's defense software analytics. Following Firefly's $9.84 billion Nasdaq listing in August, the acquisition, expected to close by year-end, aims to enhance Firefly's position in the military-space sector.
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Key takeaways
- Firefly Aerospace is set to acquire SciTec in a deal valued at approximately $855 million, consisting of $300 million in cash and $555 million in Firefly stock
- The acquisition, anticipated to close by year-end, will integrate SciTec's defense software analytics, including advanced missile warning and surveillance technologies, into Firefly’s suite of space services
- This strategic move follows Firefly's Nasdaq listing in August, which assigned the company a valuation of $9
Firefly Aerospace is set to acquire SciTec in a deal valued at approximately $855 million, consisting of $300 million in cash and $555 million in Firefly stock. The acquisition, anticipated to close by year-end, will integrate SciTec's defense software analytics, including advanced missile warning and surveillance technologies, into Firefly’s suite of space services. This strategic move follows Firefly's Nasdaq listing in August, which assigned the company a valuation of $9.84 billion, and is designed to solidify Firefly's presence in the military-space sector amid increasing geopolitical instability.
Related Topics
Firefly AerospaceSciTecacquisitionaerospacedefensespace technologymilitary-space sector
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