Mercury Systems, Inc. announced the completion of its acquisition of Avalex Technologies.
Pursuant to the terms of the definitive agreement applicable to the acquisition, Mercury acquired Avalex for all cash, subject to net working capital and net debt adjustments. The acquisition was treated as an asset sale for tax purposes. The acquisition and associated transaction expenses were funded through a combination of cash on hand and Mercury’s existing revolving credit facility.
“We’re pleased that this transaction was completed on schedule; the next step is executing a seamless integration,” said Mark Aslett, Mercury’s president and chief executive officer. “The acquisition is directly aligned with our strategy and will enable us to address and enable the growing demand for digitally converged solutions in the C4I and platform/mission management markets. We welcome the Avalex team to the Mercury family.”