Mercury Systems Closes $100M American Panel Acquisition; Mark Aslett Quoted

Mercury Systems (Nasdaq: MRCY) has finalized its acquisition of large area display technology developer American Panel Corp. for approximately $100M.

œThe acquisition is consistent with our strategy and will expand our position in the growing avionics market while providing important new capabilities for our customers, Mark Aslett, president and CEO of Mercury Systems, said in a statement published Monday.

Mercury used its existing cash on hand to fund the acquisition announced in July and Aslett said the company will now proceed with the integration of APC.

Alpharetta, Ga.-based APC produces display products for military and commercial aircraft and ground vehicles. Its offerings have been fielded on F-35, F-15, F-18 and F-16 fighter jets as well as on the U.S. Army™s Apache helicopter and M1A2 Abrams battle tank.

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