Satellite manufacturer Terran Orbital to be acquired by Lockheed Martin
NewsAugust 15, 2024
BETHESDA, Maryland. Lockheed Martin signed a definitive agreement to acquire Terran Orbital, a satellite-based solutions provider for the aerospace and defense sectors, the company announced in a statement.
The acquisition, valued at approximately $450 million, is expected to close in the fourth quarter of 2024, pending regulatory and shareholder approvals. Terran Orbital, which has supported more than 80 missions over the past decade, will remain a commercial supplier to the industry post-acquisition, the statement reads.
Lockheed Martin is currently Terran Orbital’s largest customer, with collaboration on projects such as the Space Development Agency’s Transport and Tracking Layer programs and various technology demonstrations. The acquisition is anticipated to enhance Lockheed Martin’s satellite manufacturing and space capabilities, the company says.
