Firefly strengthens a portfolio with $ 855 million in National Security Technology SCITEC

(Reuters) -The company said on Sunday, just months after the Nasdak list, its wallet was sharpened while receiving American military, civil and civilian programs on Sunday, just months after the Nasdak list, sharpening its wallet at a time when the US military and civilian programs are receiving increasing.

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 NASDAC, which represents the largest list in the United States this year by the space technology company.

The company said that Firefly for Princeton will enhance the New Jersey SCITEC space services by integrating the SCITEC defense analyzes into its systems.

The basic capabilities of Scitec, which include missile warning, tracker, 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 a fire unit during the reign of Jim Lesovsky, its current CEO, Firefly said.

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 from the turbulent past, including bankruptcy in 2017 and the overthrow of the CEO of the CEO last year.

In September, Firefly said that alpha missile supporter was destroyed in a test accident. The accident was another interruption in front of Firefly actions a few weeks after the closure of the investigation of the Alpha missile failure, which Lockheed Martin was placed in a shallow orbit in late April, which means the failure of the mission.

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