(RTTNews) - Firefly Aerospace (FLY), a space and defense technology company, announced that it agreed to acquire SciTec, Inc., a provider of advanced national security technologies. The transaction is valued at approximately $855 million, consisting of $300 million in cash and $555 million in Firefly shares issued to SciTec owners at a price of $50 per share.
SciTec is headquartered in Princeton, N.J., and maintains five additional facilities strategically positioned near key space and defense customers.
The acquisition is expected to close by year end 2025. Once finalized, SciTec will be operated as a Firefly subsidiary under its current business model led by Jim Lisowski, current CEO of SciTec, who will report to Firefly's CEO Jason Kim.
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