:

Business/Financial

Lockheed Martin Agrees To Acquire Terran Orbital For Less Than Original Proposal

By Cal Biesecker

Thursday, August 15th, 2024

SHARE:

Lockheed Martin Agrees To Acquire Terran Orbital For Less Than Original Proposal

Terran Orbital's new satellite manufacturing space in Irvine, Calif. Photo: Terran Orbital

Lockheed Martin [LMT] on Thursday said it has agreed to acquire satellite manufacturer Terran Orbital [LLAP] in a $450 million deal based on enterprise value, a bargain versus the $606 million unsolicited proposal the aerospace and defense giant made in March. Announcement of deal follows Terran’s disclosure on Monday that it has removed from its backlog more than $2 billion related to an earlier agreement to build satellites for Germany’s Rivada Space Networks. At the end of June, Terran’s backlog…

Space

NRO Nominee: “We Have To Look Differently At Our Requirements”

The National Reconnaissance Office (NRO) has said that it has launched more than 200 proliferated low Earth orbit satellites in the last two years to supplement the costly high-end systems […]

Congress

Congress Needed Pentagon’s Iran Supplemental Request ‘Yesterday,’ HASC’s Wittman Says

A senior member of the House Armed Services Committee (HASC) said Wednesday that Congress needed the Pentagon’s Iran supplemental funding request “yesterday,” noting the ongoing lack of details from the […]

Space

Space Force Eyes Nearly $1.5 Billion for Space Data Network Backbone in Future Reconciliation Bill

The U.S. Space Force (USSF) plans to request nearly $1.5 billion for the Space Data Network (SDN) Backbone in a future fiscal 2027 reconciliation bill. Last week, Space Force’s Space […]

Congress

Warren And Sheehy Renew Call for “Right to Repair” In NDAA

Sen. Elizabeth Warren (D-Mass.) and Sen. Timothy Sheehy (R-Mont.), two members of the Senate Armed Services Committee (SASC), are renewing their call for “Right to Repair” language in the National […]