Firefly Aerospace Acquires SciTec for $855M in Cash and Stock

Firefly Aerospace has agreed to acquire SciTec for approximately $855 million in cash and stock. The deal is financed by a combination of $300 million in cash and $555 million in Firefly shares. SciTec generated $164 million in revenue for the year ending June 30, driven by contracts with the intelligence community, defense, and commercial customers. The acquisition is expected to close by year end and SciTec will operate as a Firefly subsidiary.

Firefly Aerospace, a space technology firm, has announced its intention to acquire national security technology company SciTec for approximately $855 million in a cash and stock deal. The acquisition will be financed through a combination of $300 million in cash and $555 million in Firefly shares issued to SciTec owners at a price of $50 per share Firefly Aerospace In Deal to Acquire SciTec: M&A Snapshot^[2].

SciTec, based in Princeton, New Jersey, generated revenues of about $164 million for the twelve-month period ending June 30, driven by contracts with the intelligence community, defense, and commercial customers Firefly Aerospace In Deal to Acquire SciTec: M&A Snapshot^[2]. The acquisition is expected to close by the end of the year, with SciTec operating as a Firefly subsidiary under its current business model, led by Jim Lisowski, the current CEO of SciTec, who will report to Firefly’s CEO Jason Kim Firefly Aerospace In Deal to Acquire SciTec: M&A Snapshot^[2].

The deal is being advised by Goldman Sachs for Firefly and Baird for SciTec Firefly Aerospace In Deal to Acquire SciTec: M&A Snapshot^[2]. This strategic move is aimed at enhancing Firefly’s capabilities in national security technology and expanding its customer base in the defense and intelligence sectors.