58.7 F
Washington D.C.
Friday, October 7, 2022
spot_img

Mercury Systems Completes Acquisition of Avalex Technologies

The acquisition and associated transaction expenses were funded through a combination of cash on hand and Mercury’s existing revolving credit facility.

Mercury Systems, Inc., a provider of secure mission-critical technologies for aerospace and defense, today announced the completion of its acquisition of Avalex Technologies.

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.”

Homeland Security Todayhttp://www.hstoday.us
The Government Technology & Services Coalition's Homeland Security Today (HSToday) is the premier news and information resource for the homeland security community, dedicated to elevating the discussions and insights that can support a safe and secure nation. A non-profit magazine and media platform, HSToday provides readers with the whole story, placing facts and comments in context to inform debate and drive realistic solutions to some of the nation’s most vexing security challenges.

Related Articles

- Advertisement -

Latest Articles