Firefly Aerospace will acquire SciTec, a national security technology firm based in New Jersey, for about US$855 million in a deal expected to close by the end of the year.

Firefly, a Texas-based space technology company, plans to fund the purchase with US$300 million in cash and US$555 million in shares.

The acquisition follows Firefly’s Nasdaq debut in August, which valued the company at US$9.8 billion after its shares rose 56%.

SciTec specializes in missile warning, tracking, defense, and intelligence analytics, which Firefly will integrate into its space services.

Once completed, SciTec will operate as a Firefly unit led by its current CEO, Jim Lisowski.

The deal comes amid rising investor interest in US military and civil space programs.

🔗 Source: Reuters