Firefly Aerospace (NASDAQ:FLY) saw its stock climb 17.3% after unveiling plans to acquire SciTec, Inc., a U.S.-based national security technology company, in a combined cash and stock transaction valued at roughly $855 million.
The agreement will see Firefly pay $300 million in cash and issue $555 million in shares at $50 per share to bring SciTec—specializing in missile warning, tracking, and defense systems—under its umbrella. The deal is expected to finalize by the end of 2025, subject to regulatory clearance.
“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, in the announcement.
For the twelve months ending June 30, 2025, SciTec generated around $164 million in revenue. Earlier this year, the company secured a $259 million contract with the U.S. Space Force to develop the Future Operational Resilient Ground Evolution framework.
By acquiring SciTec, Firefly will expand its offerings with advanced software analytics, remote sensing, and data processing capabilities, complementing its existing launch services, lunar operations, and in-space solutions. SciTec will continue operating as a Firefly subsidiary, maintaining its current business model, with CEO Jim Lisowski reporting to Firefly’s Jason Kim.
SciTec, based in Princeton, New Jersey, has five additional facilities strategically located near key clients in the space and defense sectors. Firefly is being advised by Goldman Sachs, while Baird serves as SciTec’s financial advisor.
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