Author: Matthew Nelson|| Date Published: January 30, 2019
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.
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