Firefly Aerospace has agreed to acquire SciTec for approximately $855 million in cash and stock as part of efforts to expand its responsive launch, ground and orbit mission services for defense and space customers.
In a news release published Sunday, Firefly Aerospace said it expects the acquisition to close by the end of 2025, subject to regulatory approvals and other customary closing conditions.
Upon completion, SciTec CEO Jim Lisowski will report to Firefly Aerospace CEO Jason Kim as he continues to lead SciTec as a subsidiary of Firefly.
The proposed deal will be financed through a combination of $300 million in cash and about $555 million in Firefly shares issued to SciTec owners at a price of $50 per share.
Goldman Sachs & Co. serves as Firefly’s exclusive financial adviser in the transaction, while Kirkland & Ellis acts as legal counsel to the space and defense technology company.
Baird and Cooley serve as exclusive financial adviser and legal counsel, respectively, to SciTec.
Gaining Access to SciTec’s Software & Big Data Processing Capabilities
“The acquisition of SciTec enhances our ability to support a growing number of defense missions and provides us with a significant operational advantage,” said Kim.
“SciTec’s mission-proven software and big data processing capabilities provide warfighters with rapid, accurate information to enable informed decisions that protect our homeland from emerging threats. These capabilities significantly enhance our ability to deliver integrated, software-defined solutions for critical national security imperatives, particularly Golden Dome,” he added.
Through the acquisition, Firefly will further broaden its space service offerings with the addition of SciTec’s defense software analytics, data expertise and remote sensing, as well as the latter’s missile warning, tracking and defense, space domain awareness, intelligence, surveillance and reconnaissance, autonomous command and control, and other core capabilities.
Princeton, New Jersey-based SciTec reported approximately $164 million in revenues for the 12-month period ending June 30, driven by contracts supporting the intelligence community, national security and defense agencies, and commercial clients.
In May, the U.S. Space Force awarded SciTec a $259 million contract to develop and deliver a scalable ground processing capability to help strengthen the service’s missile warning and tracking mission as part of the Future Operational Resilient Ground Evolution, or FORGE, framework.
