Aaron E. Martinez/Austin American-Statesman via Getty Images
- Firefly Aerospace plans to purchase defense analytics company SciTec for $855 million in cash and equity.
- The company anticipates that the deal will close by the end of 2025.
- Firefly hopes the acquisition will give it an edge in Trump’s Golden Dome plans.
Firefly Aerospace, the Texas-based company that makes rockets and other space tech, agreed on Sunday to buy defense analytics company SciTec for roughly $855 million in cash and equity. The acquisition is expected to close by the end of 2025, according to a press release.
The company says that acquiring SciTec will give it an edge in defense-related missions, such as Golden Dome, the Trump administration’s proposed defense system to intercept missiles launched at the United States. That project could cost as much as $3.6 trillion over the next 20 years, according to a report by the American Enterprise Institute.
“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,” Firefly CEO Jason Kim said in the press release. “These capabilities significantly enhance our ability to deliver integrated, software-defined solutions for critical national security imperatives.”
SciTec, based in Princeton, New Jersey, makes missile defense, remote sensing, and command and control systems. In May, the US Space Force awarded SciTec a $259 million contract. The company generated roughly $164 million during the year ending June 30, according to the press release.
Firefly IPO’d on the Nasdaq in August as one of a few space-related public market debuts of the summer. Despite shares soaring on its first day of trading, the stock has plunged over 50% since its IPO and was trading at about $29 a share at market close on Monday.
Post acquisition, SciTec will operate as a Firefly subsidiary led by Jim Lisowski, its current CEO. Lisowski will report to Firefly’s Kim.
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