Today secure sensor company, Mercury Systems completed the acquisition of American Panel Corporation for US$100 million.
Mercury Systems (NASDAQ:MRCY), a company that provides secure sensors for commercial sectors, has completed the acquisition of modular warehouse and cold storage company, American Panel for US$100 million. The deal was completed in a cash transaction, as the company aims to enter further into the avionics industry.
As quoted in the press release:
Pursuant to the terms of the purchase agreement applicable to the acquisition, Mercury acquired APC for a purchase price of $100 million, subject to net working capital and net debt adjustments, which was entirely funded with cash on hand.
“We’re pleased that this transaction was completed; the next step is executing a seamless integration,” said Mark Aslett, President and CEO of Mercury. “The acquisition is consistent with our strategy and will expand our position in the growing avionics market while providing important new capabilities for our customers. We welcome the APC team to the Mercury family.”