ANDOVER, Mass., May 10, 2022 (GLOBE NEWSWIRE) — Mercury Systems Inc. (MRCY, www.mrcy.com), a leader in reliable and secure critical technologies for aerospace and defense, and Lockheed Martin (:LMT ) announced that they have signed an agreement to collaborate on the development and manufacture of new sensor processing technologies at Mercury’s facilities in Geneva, Switzerland, for a wide variety of applications such as radar signal processing, fusion multi-sensor data, artificial intelligence and situational awareness. With a potential lifetime value of $40 million, the contract supports Lockheed Martin’s offset agreement with the Swiss government as part of Switzerland’s planned purchase of 36 F-35A Lightning II aircraft linked to the program Air 2030.
Why is this important:
This cooperation between Lockheed Martin and Mercury will help provide Switzerland and other countries with some of the most advanced airborne defense systems in the world. Local industry in French-speaking Switzerland will also benefit from new opportunities and additional long-term market access.
“We are delighted to strengthen our collaboration with Lockheed Martin,” said Paul Tanner, vice president of international growth operations at Mercury. “We believe this project will be important for Switzerland and its economy, as it benefits Swiss national security through the use of military aerospace and defense. Moreover, it will continue to support our international growth as well as to strengthen our production capacity. It’s a great example of connecting advanced commercial technology to defense, to meet the ever-changing critical needs of the A&D industry.
Under the agreement, the companies will seek to integrate the next generation of in-vehicle processing technology into safety-certifiable systems through the design, development and manufacture of complex products, purpose-built for the aerospace industry. and defense in order to meet the needs of sensors. processing requirements for a variety of fixed-wing and rotary-wing airborne platforms. This investment will also provide the highest levels of performance and functionality while maintaining the ability to achieve the most critical levels of DO-254 and DO-178C security certification.
“We look forward to continuing to strengthen our commitment to Swiss industry while extending our longstanding relationship with Mercury Systems,” said Patrick Nyfeler, managing director of Lockheed Martin Switzerland. “With Mercury, we intend to work closely with the Swiss government to select the best possible projects during the term of this agreement, to strengthen Switzerland’s competitiveness in the global economy, to create jobs and improve skills. of the local labor market well beyond the 10-year life of the contract.”
Mercury envisions, creates and delivers innovative technology solutions specifically designed to meet the most pressing high-tech needs of its customers. For more information, visit mrcy.com or contact Mercury at (866) 627-6951 or [email protected].
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 114,000 people worldwide and is primarily engaged in research, design, development, manufacturing, integration and service. maintaining state-of-the-art technology systems, products and services.
Mercury Systems – Innovation That Matters®
Mercury Systems is a global commercial technology company serving the aerospace and defense industry. Based in Andover, Mass., the company provides reliable and secure open-architecture processing solutions powering a wide range of mission-critical applications in the harshest and most demanding environments. Inspired by its purpose to deliver innovation that matters, by and for the people that matter, Mercury helps make the world a safer and more secure place for everyone. To learn more, visit mrcy.com or follow us on Twitter.
Safe Harbor Forward-Looking 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 products and services described herein and business performance in fiscal year 2022 and beyond and the company’s plans for growth, cost reduction and improved profitability and cash flow. You can identify these statements by the use of the words “may”, “will”, “could”, “should”, “would”, “plan”, “expect”, “anticipate”, “continue”, “estimate”, “project”, “intention”, “probable”, “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. These risks and uncertainties include, but are not limited to, the continued funding of defense programs, the timing and amounts of such funding, general economic and business conditions, including unexpected weakness in the Company’s markets, the effects epidemics and pandemics such as COVID, the effects of any U.S. federal government shutdown or prolonged ongoing resolution, the effects of ongoing geopolitical unrest and regional conflict, competition, inflation, changes in the technology and methods to market, delays in the completion of engineering and manufacturing programs, changes in customer ordering patterns, changes in product mix, continued success in technological advancements and the provision technological innovations, changes in or in the US government’s interpretation of rules and regulations federal export control or procurement regulations, changes in, or in the interpretation or application of, environmental rules and regulations, market acceptance of the Company’s products, shortages or delays in receipt of components, production delays or unforeseen expenses due to performance quality issues with outsourced components, failure to fully realize the expected benefits of acquisitions, restructurings and value creation initiatives such as 1MPACT, or delays in realizing these benefits, difficulties in integrating acquired businesses and achieving anticipated synergies, effects of shareholder activism, interest rate increases, regulatory changes and industrial security and cybersecurity requirements , changes in tax rates or tax regulations, changes in swap s interest rate or other cash flow hedging arrangements, changes in generally accepted accounting principles, difficulties in retaining key employees and customers, unforeseen costs under fixed price service contracts and systems integration, and various other factors beyond our control. These risks and uncertainties also include additional risk factors, as disclosed in the Company’s filings with the United States Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended July 2021. The Company cautions readers not to place undue reliance on these 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.
Robert McGrail, Director of Corporate Communications
Mercury Systems Inc.
+1 (978) 967-1366 | [email protected]
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