Mercury Systems announces it will acquire Physical Optics Corp.News
December 07, 2020
ANDOVER, Mass. Mercury Systems has signed a definitive agreement to acquire Physical Optics Corp. of Torrance, California, a company that designs, develops, and integrates advanced technologies that are focused mainly on avionics and mission subsystems for the defense market.
Under the terms of the acquisition agreement, Mercury will acquire Physical Optics in an all-cash purchase deal totaling $310 million, subject to net working capital and net debt adjustments.
Mark Aslett, Mercury’s president and chief executive officer, said of the deal: “The acquisition of Physical Optics Corporation (POC) adds important capabilities on new and existing airborne programs in the platform and mission management market. The combination of Mercury’s safety-certifiable and secure avionics processing solutions with POC’s deep portfolio of data storage, transfer, and encryption technologies will enable us to deliver more complete, pre-integrated avionics subsystems to our customers. POC has a similar growth profile to Mercury, supported by several key design wins that are transitioning into production. We are very excited for POC to join the Mercury team.”