Defense technology manufacturer Mercury Systems (Nasdaq: MRCY) has agreed to purchase Switzerland-based military and aerospace computing company CES Creative Electronic Systems for $38 million to add new avionics and platform management products.
Chelmsford, Mass.-based Mercury said Thursday it expects to close the transaction by the end of this year and will fund the deal with cash on hand.
Headquartered in Geneva, CES generated approximately $23 million in revenue over one year through Sept. 30, 2016.
Mercury CEO Mark Aslett said the acquisition also seeks to “expand (our) addressable market into commercial aerospace, defense platform management, C4I and mission computing – markets that are aligned to Mercury’s existing market focus.”
“The addition of CES adds important and complementary capabilities in mission computing, safety-critical avionics and platform management that are in demand from our customers, ” Aslett added.
CES designs, develops and manufactures for products such as primary flight control units, flight test computers, mission computers and command-and-control processors.