Mercury Systems is “well-positioned” to take advantage of an improving market for acquisitions, according to the top executive of the US-based defence electronics supplier.
Mercury is a member of the Raytheon-led team that won the US Army’s Lower Tier Air and Missile Defense Sensor (LTAMDS) prototyping contract last year. (Raytheon)
Besides enjoying a strong balance sheet, the company has a “very robust” pipeline of companies it is considering buying, said Mark Aslett, Mercury’s president and CEO.
The advent of the coronavirus disease (Covid-19) forced many companies, including Mercury, to place their acquisition activity on hold. However, now that companies have adapted to the pandemic, such as by conducting Covid-19 testing before holding in-person meetings with each other, Mercury is seeing a “significant increase” in acquisition activity, Aslett said.
“People are finding ways to conduct diligence and get deals done in a pandemic environment,” Aslett told analysts during a 3 November conference call.
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