U.S. Navy Funds Mercury To Develop Photonics Chiplet Manufacturing Capability For Defense Applications
Portfolio Pulse from Benzinga Newsdesk
Mercury Systems, Inc. (NASDAQ:MRCY) has announced an agreement with the U.S. Navy to develop manufacturing capabilities for commercial photonics chiplets to accelerate edge processing in defense applications. The $3.9 million, 17-month agreement will allow Mercury to access photonics devices developed by Intel and Ayar Labs for the commercial sector. The technology will enable faster decision-making in next-generation radar and electronic warfare systems.
November 02, 2023 | 9:33 pm
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Mercury Systems has secured a $3.9 million agreement with the U.S. Navy to develop photonics chiplet manufacturing capabilities. This could potentially enhance Mercury's product offerings and increase its market share in the defense sector.
The agreement with the U.S. Navy is a significant development for Mercury Systems. It not only provides a new revenue stream but also strengthens the company's position in the defense sector. The adoption of the new technology could potentially lead to an increase in Mercury's market share, positively impacting its stock price in the short term.
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