In this article

FLY

Follow your favorite stocks CREATE FREE ACCOUNT

Firefly Aerospace stock climbed 12% Monday, after the space company said it's buying defense technology contractor SciTec for $855 million as it looks to strengthen its national security offering.

The deal, announced Sunday, is slated to close at the end of the year and includes $300 million cash and $555 million in Firefly shares.

"These capabilities significantly enhance our ability to deliver integrated, software-defined solutions for critical national security imperatives, particularly Golden Dome," said CEO Jason Kim in a release.

The company plans to integrate SciTec's software into its tools. Capabilities such as missile warning, tracking and defense and autonomous command control will also suppo

See Full Page