Mercury Systems has agreed to acquire fellow US defence electronics supplier Physical Optics Corporation (POC), saying the two companies have complementary offerings.
Mercury Systems is based in the US state of Massachusetts. (Mercury Systems)
“The combination of Mercury’s safety-certifiable and secure avionics processing solutions with POC’s deep portfolio of data storage, transfer, and encryption technologies will enable us to deliver more complete, pre-integrated avionics subsystems to our customers,” said Mark Aslett, Mercury’s president and CEO.
Mercury said on 7 December that it will pay about USD310 million for POC using cash in hand and an existing line of credit. It expects to close the acquisition by 1 January.
POC has about 350 employees and estimates it will have over USD120 million in revenue in 2020.
POC’s recent contract awards include USD84.9 million from the US Naval Air Warfare Center Aircraft Division to provide data transfer system parts for helicopters, USD31 million from Lockheed Martin to supply data storage systems for F-16s, and USD17.8 million from the US Navy to deliver heads-up displays for T-45 trainer jets.
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