Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a technology
company that delivers mission-critical processing power to the
edge, today announced an agreement with the U.S. Navy to advance
sensor processing technologies that will allow radar and electronic
warfare (EW) capabilities to be designed on much shorter timelines.
For decades, increasing system and software complexity has
extended the timelines for developing and fielding military
platforms. The Office of Naval Research’s Open Rapid Chipletized
Approach (ORCA) program aims to reduce the time needed to design
edge processing solutions by increasing the modularity of
components at the chip level. Under a $13.2 million contract,
Mercury will develop a next-generation RF System-in-Package (SiP)
that integrates the latest commercial chips from major
semiconductor providers within a smaller and lighter footprint.
This work will build on Mercury’s RFS1140 SiP, which integrates
an AMD Versal FPGA, Jariet Electra-MA high-speed data converters,
and Micron memory for a truly advanced solution to support sensor
processing.
“ORCA represents a significant evolution of the Mercury
Processing Platform that will drive down radar and EW system
development timelines, allowing next-generation capabilities to be
fielded much faster,” said Tony Trinh, Mercury’s Senior Director of
Advanced Packaging. “The ORCA approach opens up incredible
opportunities to integrate mission-specific pre-processing chiplets
to rapidly upgrade systems on a wide variety of existing platforms
and stay ahead of evolving threats.”
“Mercury is pioneering the way for on-shore advanced secure
microelectronics integration and packaging capability with
DMEA-certified full product lifecycle support, including concept,
design, assembly, and test, to rapidly deliver application-tailored
system solutions to the warfighter,” said Adam Miller, Office of
Naval Research Program Officer.
Mercury Systems – Innovation that
matters® Mercury Systems is a technology company that
delivers mission-critical processing power to the edge, making
advanced technologies profoundly more accessible for today’s most
challenging aerospace and defense missions. The Mercury Processing
Platform allows customers to tap into innovative capabilities from
silicon to system scale, turning data into decisions on timelines
that matter. Mercury’s products and solutions are deployed in more
than 300 programs and across 35 countries, enabling a broad range
of applications in mission computing, sensor processing, command
and control, and communications. Mercury is headquartered in
Andover, Massachusetts, and has 24 locations worldwide. To learn
more, visit mrcy.com. (Nasdaq: MRCY)
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 Company's focus on enhanced
execution of the Company's strategic plan under a refreshed Board
and leadership team. You can identify these statements by 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 any U.S. federal government shutdown
or extended continuing resolution, effects of geopolitical unrest
and regional conflicts, competition, changes in technology and
methods of marketing, delays in or cost increases related to
completing development, 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 or delays in receiving components,
supply chain delays or volatility for critical components such as
semiconductors, production delays or unanticipated expenses
including due to quality issues or manufacturing execution issues,
capacity underutilization, increases in scrap or inventory
write-offs, failure to achieve or maintain manufacturing quality
certifications, such as AS9100, the impact of supply chain
disruption, inflation and labor shortages, among other things, on
program execution and the resulting effect on customer
satisfaction, inability to fully realize the expected benefits from
acquisitions, restructurings, and operational efficiency
initiatives or delays in realizing such benefits, challenges in
integrating acquired businesses and achieving anticipated
synergies, effects of shareholder activism, increases in interest
rates, changes to industrial security and cyber-security
regulations and requirements and impacts from any cyber or insider
threat events, changes in tax rates or tax regulations, such as the
deductibility of internal research and development, changes to
interest rate swaps or other cash flow hedging arrangements,
changes to generally accepted accounting principles, difficulties
in retaining key employees and customers, litigation, including the
dispute arising with the former CEO over his resignation,
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 June 30, 2023 and
subsequent Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K. 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.
INVESTOR CONTACTNelson Erickson Senior
Vice President, Strategy and Corporate
Development Nelson.Erickson@mrcy.com
MEDIA CONTACT Turner Brinton Senior
Director, Corporate
Communications Turner.Brinton@mrcy.com
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