Deal Details

SciTec to be Acquired by Firefly

Industrial
Technology & Services

SciTec acquisition by Firefly

Summary

SciTec Incorporated (“SciTec” or the “Company”) is to be acquired by Firefly Aerospace (“Firefly”) (NASDAQ: FLY) for approximately $855 million in cash and stock. The transaction is subject to various regulatory approvals and customary closing conditions and is expected to close in the fourth quarter of this year.

Baird is the exclusive financial advisor to SciTec on this transaction.

About

SciTec is a national security space and defense technology company that delivers advanced remote sensing, missile defense, and command and control to protect against global threats. With over four decades of expertise, the Company develops innovative solutions focusing on mission-critical applications that enhance warfighter capabilities. SciTec is headquartered in Princeton, New Jersey with locations in Boulder, Colorado, Dayton, Ohio, El Segundo, California, and Huntsville, Alabama.

SciTec’s core capabilities – including missile warning, tracking, and defense; intelligence, surveillance, and reconnaissance; space domain awareness; and autonomous command and control – will supplement Firefly’s launch, lunar, and in-space services. SciTec further adds ground and onboard data processing as well as AI-enabled systems designed for low latency operations in support of advanced threat tracking and responses in multiple domains.

Firefly’s acquisition of SciTec underscores several themes in the Defense & Government and Space markets: (1) new space businesses consolidating to enhance national security capabilities; (2) market enthusiasm for businesses aligned with Golden Dome and other high profile defense initiatives; and (3) rapid fielding of innovation and speed to operations across the Defense Tech landscape.

Firefly is a space and defense technology company that enables government and commercial customers to launch, land, and operate in space – anywhere, anytime. As the partner of choice for responsive space missions, Firefly is the only commercial company to launch a satellite to orbit with approximately 24-hour notice. Firefly is also the only company to achieve a fully successful landing on the Moon. Established in 2017, Firefly’s engineering, manufacturing, and test facilities are co-located in central Texas to enable rapid innovation. The firm’s small- to medium-lift launch vehicles, lunar landers, and orbital vehicles are built with common flight-proven technologies to enable speed, reliability, and cost efficiencies for each mission from low Earth orbit to the Moon and beyond. Firefly is headquartered in Cedar Park, Texas.

Industrial
Technology & Services

SciTec acquisition by Firefly