Firefly Aerospace announced on Sunday that it has agreed to acquire the defense analytics firm SciTec for approximately 855 million dollars. The purchase will be made using a combination of cash and stock. This strategic move helps advance Firefly’s goal of becoming a major participant in the national security market.
The acquisition terms include a payment of around 300 million dollars in cash and 555 million dollars in new Firefly shares. The transaction is anticipated to be finalized by the end of 2025.
SciTec, which is based in Princeton, provides missile warning and tracking systems, space domain awareness tools, and analytics to defense and intelligence clients. Earlier this year, the company received a 259 million dollar contract from the Space Force to develop a ground system for missile detection satellites. SciTec reported annual revenue of 164 million dollars as of the end of June.
This acquisition follows Firefly’s initial public offering by nearly two months, an event which valued the company at close to 10 billion dollars. The deal represents a key part of Firefly’s plan to transform from a launch and spacecraft manufacturer into a vertically integrated defense contractor.
Integrating SciTec is expected to be highly advantageous for Firefly. This is particularly relevant as the Pentagon increasingly looks for commercial partners to support missile tracking and early warning systems, including for its Golden Dome missile defense program.
Once the acquisition is complete, SciTec will function as a subsidiary of Firefly. The company will continue to be led by its current Chief Executive Officer, Jim Lisowski.