On Oct. 5, Firefly announced it would be acquiring SciTec Inc. for $855 million. The sale will be achieved through a $300 million cash payment plus $555 million in Firefly stock, issued to the owners of SciTec at $50 per share. The acquisition is expected to be completed by the end of 2025, according to a news release.
The details
SciTec, headquartered in Princeton, New Jersey, specializes in national security initiatives such as missile detection, surveillance and intelligence. Firefly aims to use the company’s programs to enhance its space services by adding mission-driven defense software, remote sensing and data analysis capabilities. SciTec technology will also be used for ground operations, including implementing AI-enhanced programs to improve response time.
“We believe Firefly is the best home for our business and people,” said Jim Lisowski, CEO of SciTec, in the release. “We share a unique focus on providing differentiated, leading-edge solutions to our customers.”
Earlier this year, SciTec was awarded a $259 million contract from the U.S. Space Force to help improve tracking technology and improve military response times.
What they’re saying
“The acquisition of SciTec enhances our ability to support a growing number of defense missions and provides us with a significant operational advantage,” said Jason Kim, CEO of Firefly Aerospace, in a news release. “We are excited to welcome the SciTec team to the Firefly family and look forward to working together to continue to deliver leading-edge solutions to advance our country’s strategic advantage in space.”
What else?
Firefly has been making national headlines throughout 2025. The company became publicly traded in July and raised more than $800 million on its initial public offering, but saw its share price tumble nearly 30% after a Sep. 29 rocket test led to an explosion at its test facility in Briggs, Texas. No personnel or facilities were harmed during the incident.
