Mercury Systems completes acquisition of Avalex Technologies
November 08 2021 - 9:00AM
Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a leader in
trusted, secure mission-critical technologies for aerospace and
defense, today announced the completion of its acquisition of
Avalex Technologies (“Avalex”).
Pursuant to the terms of the definitive agreement applicable to
the acquisition, Mercury acquired Avalex for all cash, subject to
net working capital and net debt adjustments. The acquisition was
treated as an asset sale for tax purposes. The acquisition and
associated transaction expenses were funded through a combination
of cash on hand and Mercury’s existing revolving credit
facility.
“We’re pleased that this transaction was completed on schedule;
the next step is executing a seamless integration,” said Mark
Aslett, Mercury’s president and chief executive officer. “The
acquisition is directly aligned with our strategy and will enable
us to address and enable the growing demand for digitally converged
solutions in the C4I and platform/mission management markets. We
welcome the Avalex team to the Mercury family.”
Mercury envisions, creates and delivers innovative technology
solutions purpose-built to meet its customers’ most pressing
high-tech needs. For more information, visit mrcy.com or
contact Mercury at (866) 627-6951 or info@mrcy.com.
Mercury Systems – Innovation That
Matters®Mercury Systems is a leading
technology company serving the aerospace and defense industry,
positioned at the intersection of high-tech and defense.
Headquartered in Andover, Mass., the Company delivers solutions
that power a broad range of aerospace and defense programs,
optimized for mission success in some of the most challenging and
demanding environments. The Company envisions, creates and delivers
innovative technology solutions purpose-built to meet customers’
most-pressing high-tech needs, including those specific to the
defense community. To learn more, visit mrcy.com, or follow us on
Twitter.
Forward-Looking Safe Harbor Statement
This press release contains certain forward-looking statements,
as that term is defined in the Private Securities Litigation Reform
Act of 1995, including those relating to the acquisition described
herein and to fiscal 2022 business performance and beyond and the
Company’s plans for growth and improvement in profitability and
cash flow. You can identify these statements by the use of the
words “may,” “will,” “could,” “should,” “would,” “plans,”
“expects,” “anticipates,” “continue,” “estimate,” “project,”
“intend,” “likely,” “forecast,” “probable,” “potential,” and
similar expressions. These forward-looking statements involve risks
and uncertainties that could cause actual results to differ
materially from those projected or anticipated. Such risks and
uncertainties include, but are not limited to, continued funding of
defense programs, the timing and amounts of such funding, general
economic and business conditions, including unforeseen weakness in
the Company’s markets, effects of epidemics and pandemics such as
COVID, effects of any U.S. federal government shutdown or extended
continuing resolution, effects of continued geopolitical unrest and
regional conflicts, competition, changes in technology and methods
of marketing, delays in completing engineering and manufacturing
programs, changes in customer order patterns, changes in product
mix, continued success in technological advances and delivering
technological innovations, changes in, or in the U.S. Government’s
interpretation of, federal export control or procurement rules and
regulations, changes in, or in the interpretation or enforcement
of, environmental rules and regulations, market acceptance of the
Company’s products, shortages in components, production delays or
unanticipated expenses due to performance quality issues with
outsourced components, inability to fully realize the expected
benefits from acquisitions, restructurings and value creation
initiatives such as 1MPACT, or delays in realizing such benefits,
challenges in integrating acquired businesses and achieving
anticipated synergies, increases in interest rates, changes to
industrial security and cyber-security regulations and
requirements, changes in tax rates or tax regulations, changes to
interest rate swaps or other cash flow hedging arrangements,
changes to generally accepted accounting principles, difficulties
in retaining key employees and customers, unanticipated costs under
fixed-price service and system integration engagements, and various
other factors beyond our control. These risks and uncertainties
also include such additional risk factors as are discussed in the
Company’s filings with the U.S. Securities and Exchange Commission,
including its Annual Report on Form 10-K for the fiscal year ended
July 2, 2021. The Company cautions readers not to place undue
reliance upon any such forward-looking statements, which speak only
as of the date made. The Company undertakes no obligation to update
any forward-looking statement to reflect events or circumstances
after the date on which such statement is made.
CONTACTMichael D. Ruppert, CFOMercury Systems
Inc.978-967-1990
Mercury Systems and Innovation That Matters are registered
trademarks of Mercury Systems, Inc. Other product and company names
mentioned may be trademarks and/or registered trademarks of their
respective holders.
Mercury Systems (NASDAQ:MRCY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Mercury Systems (NASDAQ:MRCY)
Historical Stock Chart
From Sep 2023 to Sep 2024