Firefly Aerospace said on Sunday that it agreed to buy Defense Analytics company Scitec with approximately $855 million in cash and stock, paving the way for its goal of becoming a key player in the national security market.
Firefly will pay around $300 million in cash and $555 million in initial shares, and is expected to close by the end of 2025.
Princeton-based Scitec sells missiles and tracking systems, space domain awareness tools and analytics to defense and intelligence customers. Earlier this year, Space Force awarded the company a $259 million contract to develop a ground system for missile detection satellites. The company reported annual revenue of $164 million at the end of June.
The acquisition comes almost two months after Firefly’s IPO and is valued at nearly $10 billion. The contract is part of the company’s efforts to relocate itself as a vertically integrated defense contractor from being a manufacturer of launches and spacecraft.
It’s definitely useful, especially as the Department of Defense seeks more commercial partners, such as missile tracing and its “golden dome” missile defense program.
Once the transaction is closed, Scitec will operate as a subsidiary of Firefly and will be led by current CEO Jim Lisowski.
