Firefly Aerospace (Nasdaq: FLY), a market leading space and defense technology company, today announced the successful completion of its acquisition of SciTec, Inc., a leader in advanced national security technologies. The purchase price consisted of a combination of cash and Firefly common stock paid to SciTec owners for the acquisition, which was first announced on October 5.
“Today marks the next era of Firefly with full-service hardware and software for our space and defense customers,” said Jason Kim, CEO of Firefly Aerospace. “SciTec brings more than four decades of experience supporting high-stakes national security missions with industry-leading software applications and big data processing capabilities that are highly complementary of Firefly’s launch, lunar, and in-space vehicles. Together, Firefly and SciTec bring the talent and tech to support the most critical national security programs and deliver the future of edge processing for dynamic space operations.”
The acquisition’s key strategic benefits include the following.
- Critical Defense Software: Bolsters Firefly’s hardware with AI-enabled defense software proven in operations for missile warning and defense; intelligence, surveillance and reconnaissance; space domain awareness; remote sensing and analysis; and autonomous command and control.
- Big Data Processing: Adds cloud-based, on-premise, and edge processing of high-volume data at rate from satellites across all orbits to enable rapid decision making for warfighters, support critical national security applications, and unlock new service categories for commercial and Moon to Mars missions.
- National Security Programs: Advances Firefly’s defense capabilities for critical national security programs, including Golden Dome, with a full suite of hardware and software for space-based interceptor missions, hypersonic test missions, space domain awareness missions, and more.
- Data and Software Experts: Adds more than 475 employees with multi-phenomenology systems proficiency, software developer expertise, and technical expertise to deliver on a range of high-stakes classified missions.
- State-of-the Art Facilities: Adds data centers, modeling and simulation labs, mission operations centers, and classified infrastructure with six locations strategically positioned near key space and defense customers.
- Robust Contracts: Brings robust contracts with growing revenue in support of the intelligence community, defense and national security agencies, and commercial customers.
“We’re proud to officially join the Firefly team and look forward to combining our software and hardware capabilities to bolster our existing services and create new industry-leading categories for space and defense customers,” said Jim Lisowski, CEO SciTec. “Both companies have become known for executing incredibly difficult missions from delivering a modernized missile warning system to successfully landing on the Moon. Together we’ll be unstoppable.”
SciTec will operate as a Firefly subsidiary under its current business model led by Jim Lisowski, current CEO of SciTec, who reports to Firefly’s CEO Jason Kim.
