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  • Monday, November 18, 2024
Mark Aslett President

Mercury to Buy Physical Optics Corp in $310M Cash Deal; Mark Aslett Quoted

Mercury Systems (Nasdaq: MRCY) has agreed to purchase Torrance, California-based systems integrator Physical Optics Corp. for approximately $310M in cash to expand the former’s global avionics and missions systems portfolio.

Mercury said Monday it plans to finance the deal with cash on hand and a revolving credit facility and expects to complete the acquisition in the second quarter of its 2021 fiscal year, pending customary closing conditions.

POC – which is projected to earn more than $120M in 2020 revenue – offers design, development and integration services for defense technology such as mission computers, flight data recorders and encryption devices.

Mark Aslett, president and CEO of Mercury, said the company intends to combine its avionics processing platforms with POC’s data management and encryption offerings.

He added the deal would expand platform and mission management content on the company’s airborne programs.

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