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This $855 million acquisition could be a boon for Trump's lofty Golden Dome project
Business Insiderยท 2025-10-06 21:20
Core Insights - Firefly Aerospace has agreed to acquire defense analytics company SciTec for approximately $855 million in cash and equity, with the deal expected to close by the end of 2025 [1][2] Group 1: Acquisition Details - The acquisition of SciTec is aimed at enhancing Firefly's capabilities in defense-related missions, particularly in relation to missile defense systems [2][3] - SciTec's software and big data processing capabilities are expected to provide critical support for national security by delivering rapid and accurate information to decision-makers [3] Group 2: Financial Aspects - SciTec generated approximately $164 million in revenue for the year ending June 30 [3] - The US Space Force awarded SciTec a contract worth $259 million in May [3] Group 3: Market Context - Firefly Aerospace went public on the Nasdaq in August, but its stock has declined over 50% since the IPO, trading at about $29 per share at market close on Monday [4] - Post-acquisition, SciTec will function as a subsidiary of Firefly, with its current CEO Jim Lisowski leading the operations [4]