Lockheed Martin Announced a definitive agreement to acquire Orbital Tirana leading provider of satellite-based solutions primarily serving the aerospace and defense sectors.
The $450 million deal is scheduled to close in the fourth quarter of 2024, pending regulatory and shareholder approvals.
Known for its high-performance robotic manufacturing and modular spacecraft designs, Terran Orbital will significantly enhance Lockheed Martin’s existing capabilities.
Lockheed Martin has used Terran Orbital satellites in key projects, including: Space Development Agency (SDA) – Unit of United States Space Force (USSF)Especially the ambitious program Deployed Warfighter Space Engineers (PWSA) To deploy hundreds of satellites in Leo For missile detection, surveillance and data transmission.
“We have worked with Terran Orbital for more than seven years on a variety of successful missions. Their capabilities, talents and commercial drives align with Lockheed Martin Space’s strategic plans, and we look forward to welcoming them to our team. Our customers need technology and product development faster, and that’s what we can achieve together.” Robert LightfootPresident, Lockheed Martin Space.
Mark Bell“We are thrilled to be partnering with Terran Orbital,” said Terran Orbital President, CEO and Co-Founder. “This transaction brings together our strengths and expertise. This move will open up new opportunities for growth and innovation, and we couldn’t be more excited about the future. Access to Lockheed Martin’s incredible engineers and world-class facilities will only accelerate our business plan to provide low-cost, high-value solutions to our ever-growing customer base.”
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