Firefly Aerospace Announces Acquisition of National Security Tech Company SciTec for ~ $855 Million

(Cedar Park, Texas) Firefly Aerospace (NASDAQ: FLY) announced yesterday a definitive agreement to acquire national security technology company SciTec, Inc. for approximately $855 million, through a combination of $300 million in cash and $555 million in Firefly shares issued to SciTec owners at a price of $50/share.

Image courtesy of Firefly Aerospace.

Per yesterday’s press release from Firefly, the acquisition will advance Firefly’s comprehensive space services by adding mission-proven defense software analytics, remote sensing, and multi-phenomenology data expertise.

SciTec’s core capabilities – which include missile warning, tracking and defense, intelligence, surveillance and reconnaissance, space domain awareness, and autonomous command and control – will supplement Firefly’s launch, lunar, and in-space services.; SciTec further adds ground and onboard data processing as well as AI-enabled systems designed for low latency operations to support advanced threat tracking and response across multiple domains, per Firefly.

“The acquisition of SciTec enhances our ability to support a growing number of defense missions and provides us with a significant operational advantage,” said Jason Kim, CEO of Firefly Aerospace. “SciTec’s mission-proven software and big data processing capabilities provide warfighters with rapid, accurate information to enable informed decisions that protect our homeland from emerging threats. These capabilities significantly enhance our ability to deliver integrated, software-defined solutions for critical national security imperatives, particularly Golden Dome. We are excited to welcome the SciTec team to the Firefly family and look forward to working together to continue to deliver leading edge solutions to advance our country’s strategic advantage in space.”