Mary-Louise Hoffman
Mark Aslett, CEO of Mercury Systems, predicts the company will be open to acquisitions in the digital signal processing modules market during the next year, the Boston Business Journal reported Tuesday.
David Harris writes Aslett said the firm could expand its portfolio by purchasing companies with radio frequency or microwave offerings for electronic warfare.
The Massachusetts-based radar technology developer currently has more than $45 million cash on hand, a debt-free balance sheet and a $200 million credit facility, Harris reports.
“We’ve got more than enough firepower to basically go and grow the business once we get back into that mode,†Aslett told the Business Journal in a recent interview.
Mercury Systems’ defense business accounts for 95 percent of the firm’s total revenues, and the semiconductor and telecommunication units account for the remaining 5 percent, according to the publication.
Its customers include Boeing, Lockheed Martin, Northrop Grumman and Raytheon.
“What we’ve found is that our customers are outsourcing more work and they’re doing it because they want to work with companies that fundamentally have the technology,†he added, according to Harris’ article.
The company has made three acquisitions in the past three years and posted $53.7 million in revenues for the fourth quarter of its 2014 fiscal year.
