Mercury Systems, Cicor create long-term strategic business relationship

Mercury Systems (MRCY) announced it has entered into a strategic supply agreement under which Cicor Group will acquire a manufacturing operation in Plan-Les-Ouates, Switzerland, and supply Mercury with electronic products over the next five years. The transaction is expected to be completed within approximately one month, subject to customary closing conditions including end customer consents. Mercury and Cicor have jointly decided to relocate production to the Cicor sites in Newport, United Kingdom, and Bronschhofen, Switzerland, within the next 18 months. As part of the agreement, Mercury will purchase boards from Cicor, as well continue to source boards from Mercury’s U.S. operations, to ensure a robust supply chain. Both parties intend to further expand the strategic business relationship in the coming years.