Hello, Guest!
  • Thursday, April 25, 2024

Mercury Acquires GECO Avionics; Mark Aslett Quoted


Mark Aslett

Andover, Mass.-based military electronics provider Mercury Systems (Nasdaq: MRCY) has acquired GECO Avionics for approximately $36.5M cash.

Mercury said Tuesday it funded the acquisition and related transaction expenses through an existing revolving credit facility.

GECO produces mission processors, aviation networking and video processing systems,  airborne displays and avionics software. The Mesa, Ariz.-based company has supplied technologies for integration into the U.S. Army’s AH-64 Apache attack helicopter and KC-46A Pegasus tanker.

Mark Aslett, president and CEO of Mercury Systems, said the deal will help expand the firm’s portfolio of system management and mission computing products.

Aslett added the company seeks to further grow its addressable market in the command, control, communications, computers and intelligence segment.

Mercury posted $159.1M in revenue for the second-quarter of its 2019 fiscal year, ended Dec. 31, up from $117.9M in the prior year period.

Video of the Day

Related Articles

IBM Strikes $6.4B Acquisition Deal for HashiCorp; Arvind Krishna Quoted M&A Activity

IBM Strikes $6.4B Acquisition Deal for HashiCorp; Arvind Krishna Quoted

IBM (NYSE: IBM) has agreed to acquire HashiCorp (Nasdaq: HCP) for approximately $6.4 billion, or $35 per share in cash, to expand its infrastructure and security lifecycle management capabilities designed to help organizations automate their multicloud and hybrid cloud environments amid the rapid deployment of artificial intelligence technologies. IBM said Wednesday the boards of directors

Sigma Defense Buys Electronic Warfare Tech Company EWA; Matt Jones Quoted M&A Activity

Sigma Defense Buys Electronic Warfare Tech Company EWA; Matt Jones Quoted

Sigma Defense Systems, a portfolio company of Sagewind Capital, has moved to expand its Combined Joint All-Domain Command and Control capabilities with its acquisition of Herndon, Virginia-based electronic warfare systems provider EWA. EWA was founded by President and CEO Carl Guerreri in 1977 to bring electronic warfare platforms, threat simulators, testing and training support and

Arcline Investment Management Closes $1.8B Kaman Acquisition; Ian Walsh Quoted M&A Activity

Arcline Investment Management Closes $1.8B Kaman Acquisition; Ian Walsh Quoted

Private equity firm Arcline Investment Management has completed its purchase of aerospace and defense contractor Kaman for approximately $1.8 billion, or $46 per share in cash. With the completion of the acquisition, Bloomfield, Connecticut-based Kaman has stopped trading its common stock on the New York Stock Exchange, according to a joint release published Friday. Arcline