Firefly Aerospace enhances a portfolio with $ 855 million for national security technology

(Reuters) -Firefly Aerospace will receive SPACE Tech on Scitec on Scitec for about $ 855 million.

Firefly said that the deal, which will be funded by a range of $ 300 million in cash and $ 555 million of Firefly shares, is to be closed by the end of the year.

In August, the Texas -based Firefly company received an evaluation of $ 9.84 billion after its shares increased by 55.6 % in its first appearance on the Nasdaq Stock Exchange, where investors continue to pour capital into companies that help to expand the American space and defense program ..

The company said that the acquisition of the Firefly of Princetus, Scitec is based in New Jersey, will enhance its space services by integrating the SCITEC defense analyzes into its systems.

The basic capabilities of Scitec, which include missile warning, tracking, defense, intelligence, and monitoring among other elements, will enhance the current services of ingenuity, moon, and space services.

Once the deal is closed, Scitec will be operated as the Rarvay unit during the reign of Jim Lesovsky, its current CEO.

High geopolitical tensions and the deterioration of international relations shed light on space and defense contractors. The deal will help Firefly to enhance its location as a space technology company enhances the possibilities of profitable military space.

Firefly has come a long way of troubled past, including bankruptcy in 2017 and CEO of overthrow last year.

(Participated in the reports of Gurmer Core in Bangaluru; edited by Diane Kraft and Chaseo Nymama)