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Business/Financial

Lockheed Martin Closes Terran Orbital Acquisition

By Rachel Jewett

Wednesday, October 30th, 2024

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Lockheed Martin Closes Terran Orbital Acquisition

Lockheed Martin’s lineup of satellite buses and a Space Development Agency transport layer spacecraft. Photo: Lockheed Martin

Lockheed Martin [LMT] on Wednesday completed its acquisition of smallsat manufacturer Terran Orbital, acquiring the former SPAC as its largest customer. Terran Orbital and subsidiary Tyvak International are now part of Lockheed Martin’s Space business area and recognized as Terran Orbital, a Lockheed Martin company. Lockheed Martin said in an Oct. 30 release it will remain a merchant supplier to the space industry for satellite design, production, launch planning, mission operations, and in-orbit support. Peter Krauss, who had been serving as COO since…

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