Mercury Selected to Deliver Upgraded Processing Power for Polish Radar System
ANDOVER, Mass., July 19, 2023 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a technology company that delivers processing power for the most demanding aerospace and defense missions, received a $14 million contract from PIT-RADWAR S.A., a supplier of the Republic of Poland’s Armed Forces, to deliver subsystem processing boards for a new mobile radar system. Under this contract, Mercury will upgrade the system architecture with a new design to improve performance, range, and accuracy of the radar.
Mercury Systems processing solutions are high-performance, rugged computing solutions designed for use in the most demanding environments. This award includes Mercury’s HDS6605 board, which provides the greatest, AI-enabling processing functionality and high-capacity memory on a single, SWaP-optimized 6U OpenVPX server processing blade. The HDS6605 securely turns massive amounts of sensor data into actionable intelligence when and where it is needed.
Why It Matters
Modern and next generation air defense platforms need more processing capability for compute-intense applications like AI and sensor processing, among others. The Mercury International team has worked closely with PIT-RADWAR for decades to provide the latest technologies from the wider Mercury portfolio to offer agile manufacturing to support PIT-RADWAR and the Polish Ministry of National Defence through multiple radar programs.
“This contract demonstrates our ability to leverage the latest in Mercury’s processing technology from the United States and then design, integrate, build and test internationally, to deliver a bespoke solution for the Polish Armed Services,” said Paul Tanner, Vice President for Mercury’s International Growth Operations. “We look forward to working with our Polish customers to deliver this next generation technology that enables superior performance of this new mobile radar system.”
The Polish Armed Forces Mobile Radar is an advanced radar system developed by Poland for air defense operations. It offers long-range surveillance and tracking capabilities, enabling the detection of aerial threats such as aircraft and missiles. The system enhances situational awareness and contributes to the overall defense capabilities of the Polish Armed Forces.
Mercury Systems – Innovation that Matters® by and for People Who Matter
Mercury Systems is a technology company that pushes processing power to the tactical edge, making the latest commercial technologies profoundly more accessible for today’s most challenging aerospace and defense missions. From silicon to system scale, Mercury enables customers to accelerate innovation and turn data into decision superiority. Mercury is headquartered in Andover, Massachusetts, and has 24 locations worldwide. To learn more, visit mrcy.com. (Nasdaq: MRCY)
Forward-Looking Safe Harbor Statement
This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the Company’s focus on enhanced execution of the strategic plan under a refreshed Board and leadership team. You can identify these statements by the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, continued funding of defense programs, the timing and amounts of such funding, general economic and business conditions, including unforeseen weakness in the Company’s markets, effects of continued geopolitical unrest and regional conflicts, competition, inflation, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, changes in, or in the U.S. government’s interpretation of, federal export control or procurement rules and regulations, changes in, or in the interpretation or enforcement of, environmental rules and regulations, market acceptance of the Company's products, shortages in or delays in receiving components, supply chain delays or volatility for critical components such as semiconductors, production delays or unanticipated expenses including due to performance quality issues or manufacturing execution issues, the impact of the COVID-19 pandemic and supply chain disruption, inflation and labor shortages, among other things, on program execution and the resulting effect on customer satisfaction, inability to fully realize the expected benefits from acquisitions, restructurings, and value creation initiatives such as 1MPACT, or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, effects of shareholder activism, increases in interest rates, changes to industrial security and cyber-security regulations and requirements and impacts from any cyber or insider threat events, changes in tax rates or tax regulations, such as the deductibility of internal research and development, changes to interest rate swaps or other cash flow hedging arrangements, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, which difficulties may be impacted by the termination of the Company’s announced strategic review initiative, unanticipated challenges with the transition of the Company’s Chief Executive Officer and Chief Financial Officer roles, unanticipated costs under fixed-price service and system integration engagements, and various other factors beyond our control. These risks and uncertainties also include such additional risk factors as are discussed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended July 1, 2022 and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
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