Lockheed Martin completes acquisition of Terran Orbital
Posted: Sun, Nov 3, 2024, 9:57 AM ET (1457 GMT)
Lockheed Martin has completed its acquisition of smallsat manufacturer Terran Orbital. Lockheed said Wednesday it closed the deal, announced in mid-August and valued at about $450 million. Terran Orbital, now formally known as "Terran Orbital, a Lockheed Martin Company," will continue to serve as a merchant supplier of smallsats for customers beyond Lockheed, which had been a key customer and partner. Terran Orbital was among the space companies that went public through SPAC mergers but which then struggled in the public market.
Lockheed Martin has completed its acquisition of smallsat manufacturer Terran Orbital. Lockheed said Wednesday it closed the deal, announced in mid-August and valued at about $450 million. Terran Orbital, now formally known as "Terran Orbital, a Lockheed Martin Company," will continue to serve as a merchant supplier of smallsats for customers beyond Lockheed, which had been a key customer and partner. Terran Orbital was among the space companies that went public through SPAC mergers but which then struggled in the public market.
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