Mercury Systems Expands Mission Computing Capabilities With Acquisition of Richland Technologies, LLC
ANDOVER, Mass., July 05, 2017 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ:MRCY) (www.mrcy.com) today announced that it has acquired Richland Technologies, LLC (RTL). Based in Duluth, Ga., RTL specializes in safety-critical and high integrity systems, software, and hardware development as well as safety-certification services for mission-critical applications. In addition, the Company is a leader in safety-certifiable embedded graphics software for commercial and military aerospace applications. The acquisition complements Mercury's acquisition of Creative Electronic Systems (CES) last November by providing additional capabilities in safety-critical markets as well as the opportunity to leverage RTL's U.S. presence and expertise. Together, the RTL and CES acquisitions position Mercury uniquely as a leading provider of secure and safety-critical processing subsystems for aerospace and defense customers. Terms of the transaction were not disclosed. The acquisition is not expected to have a material impact on Mercury's financial results for the first quarter or full fiscal year 2018. Mercury intends to maintain RTL's presence in Duluth, Ga.
"We are very pleased to welcome RTL to the Mercury family," said Mark Aslett, Mercury's President and Chief Executive Officer. "Mercury gained a very strong footprint in safety-critical avionics with the acquisition of CES, based in Geneva, Switzerland, which we have renamed and is now operating as Mercury Mission Systems International (MMSI) as part of our Sensor and Mission Processing product line. The combination of RTL with MMS gives us a strong U.S. presence in the safety-critical avionics market, adding significant systems engineering, safety-critical software and hardware development and certification expertise to our existing mission computing portfolio. These new capabilities will enhance Mercury's market penetration in commercial aerospace, defense platform management, C4I and mission computing — markets that are very closely aligned with Mercury's existing market focus," Aslett concluded.
Mercury Systems (NASDAQ:MRCY) is a leading commercial provider of secure sensor and mission processing subsystems. Optimized for customer and mission success, Mercury's solutions power a wide variety of critical defense and intelligence programs. Headquartered in Andover, Mass., Mercury is pioneering a next-generation defense electronics business model specifically designed to meet the industry's current and emerging technology needs. To learn more, visit www.mrcy.com.
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 acquisition of Richland Technologies, LLC described herein. You can identify these statements by the use of 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, 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, market acceptance of the Company's products, shortages in components, production delays or unanticipated expenses due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions and restructurings, or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, increases in interest rates, changes to export regulations, increases in tax rates, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, 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 June 30, 2016. 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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Gerry Haines, CFO
Mercury Systems, Inc.