Mercury Systems to acquire Avalex Technologies
Mercury Systems, a supplier of secure mission-critical technologies for the aerospace and defence sectors, has signed an agreement to acquire Avalex Technologies.
Avalex, based in Florida, is a developer of mission-critical avionics, including rugged displays, integrated communications management systems, digital video recorders, and warning systems.
“Avalex’s product and technology portfolio is highly complementary to Mercury’s existing offering,” said Mark Aslett, Mercury’s president and chief executive officer. “With deep expertise in integrated displays, digital video recorders, and communications management, their suite of innovative avionics solutions uniquely position the company to address and enable the growing demand for digitally converged solutions in the C4I and platform/mission management markets. Like our previous acquisition of Physical Optics Corporation, Avalex is also experiencing accelerated growth due to their strong product offerings and supply chain delayering by the Government.”
Mercury will acquire Avalex for all cash, subject to net working capital and net debt adjustments and the compnay is expected to generate approximately $40 million in revenue for the twelve months to the end of 2022.