{"id":28163,"date":"2020-12-08T08:45:25","date_gmt":"2020-12-08T13:45:25","guid":{"rendered":"https:\/\/intelligencecommunitynews.com\/?p=28163"},"modified":"2020-12-08T08:45:25","modified_gmt":"2020-12-08T13:45:25","slug":"mercury-to-acquire-physical-optics","status":"publish","type":"post","link":"https:\/\/intelligencecommunitynews.com\/mercury-to-acquire-physical-optics\/","title":{"rendered":"Mercury to acquire Physical Optics"},"content":{"rendered":"<p><span style=\"font-size: 10.5pt; font-family: 'Arial',sans-serif;\">Andover, MA-based <a href=\"http:\/\/mrcy.com\" target=\"_blank\" rel=\"noopener noreferrer\">Mercury Systems, Inc<\/a>. announced on December 7 that it has signed a definitive agreement to acquire Physical Optics Corporation (\u201cPOC\u201d). Based in Torrance, CA, POC is a leading designer, developer, and integrator of advanced technologies primarily focused on avionics &amp; mission subsystems for defense applications.<\/span><\/p>\n<p><span style=\"font-size: 10.5pt; font-family: 'Arial',sans-serif;\">Pursuant to the terms of the agreement, Mercury will acquire POC for an all-cash purchase price of $310 million, subject to net working capital and net debt adjustments. The acquisition and associated transaction expenses are expected to be funded through a combination of cash on hand and Mercury\u2019s existing revolving credit facility.<\/span><\/p>\n<p><span style=\"font-size: 10.5pt; font-family: 'Arial',sans-serif;\">POC is currently expected to generate revenue of over $120 million for its fiscal year ending December 31, 2020. The acquisition represents a multiple of approximately 13x next twelve months EBITDA and is expected to be immediately accretive to adjusted EPS.<\/span><\/p>\n<p><span style=\"font-size: 10.5pt; font-family: 'Arial',sans-serif;\">\u201cThe acquisition of Physical Optics Corporation adds important capabilities on new and existing airborne programs in the platform and mission management market,\u201d said Mark Aslett, Mercury\u2019s president and chief executive officer. \u201cThe combination of Mercury\u2019s safety-certifiable and secure avionics processing solutions with POC\u2019s 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.\u201d<\/span><\/p>\n<p><span style=\"font-size: 10.5pt; font-family: 'Arial',sans-serif;\">\u201cThis acquisition broadens our avionics product and technology portfolio to help our defense prime customers, the U.S. Navy, Army and Air Force deploy next-generation open-architecture mission computing solutions,\u201d added Amela Wilson, senior vice president, Mercury Mission. \u201cSimilar to Mercury, POC is well-positioned in faster-growing segments of the defense market and benefits from secular growth drivers, such as supply chain delayering. Together, Mercury and POC can provide customers new capabilities and subsystem solutions.\u201d<\/span><\/p>\n<p><span style=\"font-size: 10.5pt; font-family: 'Arial',sans-serif;\">Founded in 1985, POC employs approximately 350 people, including more than 160 highly skilled engineers, and holds over 160 patents worldwide, covering 60 technologies. They support mission-critical programs with common-use products spanning data transfer systems, flight data recorders, mission computers, high-definition data and video recorders, and advanced encryption devices. POC is well-positioned on a wide variety of key airborne and naval defense platforms that are experiencing increased funding for electronics modernization to specifically address digital convergence and combat near-peer threats in line with the National Defense Strategy.<\/span><\/p>\n<p>Source: Mercury<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Andover, MA-based Mercury Systems, Inc. announced on December 7 that it has signed a definitive agreement to acquire Physical Optics&#8230;<\/p>\n","protected":false},"author":9,"featured_media":25275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[4559,638,82,15259,15258],"class_list":["post-28163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-news","tag-mercury","tag-mercury-systems","tag-metered","tag-physical-optics","tag-physical-optics-corporation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mercury to acquire Physical Optics - Intelligence Community News<\/title>\n<meta name=\"description\" content=\"Mercury Systems, Inc. announced on December 7 that it has signed 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