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(Reuters) -Space -Tech company Firefly Aerospace, the national security technology company SCITEC will acquire for around 855 million US dollars.
The deal, which is financed by a combination of 300 million US dollars in cash and 555 million US dollars of Firefly shares, will be completed by the end of the year, said Firefly.
In August, the Firefly company based in Texas secured an assessment of $ 9.84 billion after their shares in their Nasdaq debut rose by 55.6%, since investors continue to pour capital in companies that support the expansion of the US space and defense program.
Firefly through the acquisition of Princeton, based in New Jersey, will improve its space services by integrating Scitec’s defense software analysis into its systems, according to the company.
The core functions of Scitec, which include rocket warning, persecution and defense, intelligence, surveillance, will strengthen the existing start, moon and in-space services from Firefly.
As soon as the deal closes, Scitec is operated as Firefly unit under Jim Lisowski, his current CEO.
Increasing geopolitical tensions and deteriorating international relationships have put room and defense entrepreneurs in the spotlight. The deal would help Firefly to strengthen its position as space technology companies that strengthen its lucrative military spactions.
Firefly has removed a long way from a turbulent past, including an insolvency in 2017 and a CEO fall last year.
(Reporting by Gursimran Kaur in Bengaluru; Editor of Diane Craft and Chizu Nomiyama)
