Mercury Systems (MRCY) to Acquire CES in ~$38M Deal
- Wall Street dips as investors ready for Trump's inauguration
- Western Union (WU) Admits Anti-Money Laundering and Consumer Fraud Violations, Forfeits $586M in Settlement
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- Apple (AAPL) PT Raised to $140 at BofA/Merrill Lynch; iPhone 8 Will be 'Super-Long' Cycle
- Morgan Stanley Upgrades Tesla Motors (TSLA) to Overweight
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Mercury Systems, Inc. (Nasdaq: MRCY) announced that it has signed a definitive agreement to acquire CES Creative Electronic Systems, S.A. (“CES”). The acquisition is expected to close during Mercury’s second fiscal quarter ending December 31, 2016. For the twelve month period ended September 30, 2016 CES had revenue of approximately $23 million. The total purchase price for the transaction is approximately $38 million, subject to net working capital and net debt adjustments and will be funded with cash on hand.
“We are very pleased to welcome CES to the Mercury family,” said Mark Aslett, Mercury’s President and Chief Executive Officer. “The addition of CES adds important and complementary capabilities in mission computing, safety-critical avionics and platform management that are in demand from our customers. These new capabilities will also substantially expand Mercury’s addressable market into commercial aerospace, defense platform management, C4I and mission computing – markets that are aligned to Mercury’s existing market focus. Like Mercury, CES has exceptional technology, solid engineering talent and strong leadership, so we believe there is an excellent fit strategically, culturally and operationally between this business and Mercury,” Aslett concluded.
Based in Geneva, Switzerland, CES is a leading provider of embedded solutions for military and aerospace mission-critical computing applications. CES specializes in the design, development and manufacture of safety-certifiable product and subsystems solutions including: primary flight control units, flight test computers, mission computers, command and control processors, graphics and video processing and avionics-certified Ethernet and IO. CES has decades of experience designing subsystems deployed in applications certified up to the highest levels of design assurance, DAL-A, for both DO-254 and DO-178. Their products and solutions are used on platforms such as aerial refueling tankers and multi-mission aircraft, as well as the several types of unmanned platforms.
For more information on the acquisition, visit www.mrcy.com/acquisition
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oracle (ORCL) to Acquire Apiary
- Viper Energy Partners (VNOM) Prices Upsized $131.75M Offering of Common Stock
- Mallinckrodt (MNK) to Pay $100M to Settle FTC, State Charges for Violating Antitrust Laws
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!