Firefly strikes $855M deal for national security tech firm SciTec
Firefly Aerospace to Acquire SciTec for $855 Million
Firefly Aerospace, a space tech firm, has announced its acquisition of national security technology company SciTec for approximately $855 million. This move aims to enhance Firefly’s portfolio, aligning with the increasing investor interest in US military and civil programs.
The acquisition will be financed through a combination of $300 million in cash and $555 million in Firefly shares, with the deal expected to close by the end of the year.
Earlier in August, Firefly achieved a valuation of $9.84 billion following a significant increase in its shares during its Nasdaq debut, making it the largest US listing by a space tech firm this year.
Firefly’s acquisition of SciTec, based in Princeton, NJ, will enable the integration of SciTec’s defense software analytics into Firefly’s systems, enhancing its space services. SciTec’s expertise in missile warning, tracking, defense, intelligence, and surveillance will complement Firefly’s launch, lunar, and in-space services.
Upon completion of the acquisition, SciTec will operate as a Firefly unit under the leadership of Jim Lisowski, its current CEO.
855M deal Fireflystrikes firm National SciTec Security Tech
