Mercury Systems Completes Acquisition of American Panel CorporationPress Release
September 23, 2019
ANDOVER, Mass. — Sept. 23, 2019 — Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com) today announced the completion of its previously reported acquisition of American Panel Corporation (APC).
Pursuant to the terms of the purchase agreement applicable to the acquisition, Mercury acquired APC for a purchase price of $100 million, subject to net working capital and net debt adjustments, which was entirely funded with cash on hand.
“We’re pleased that this transaction was completed; the next step is executing a seamless integration,” said Mark Aslett, President and CEO of Mercury. “The acquisition is consistent with our strategy and will expand our position in the growing avionics market while providing important new capabilities for our customers. We welcome the APC team to the Mercury family.”