Orbital Sciences Corp. [ORB] last Friday said it has completed its $55 million purchase of the spacecraft development and manufacturing business from General Dynamics [GD].
Orbital announced the deal early last month as a way to give it an immediate entry into the medium satellite market (Defense Daily, March 8). The company already makes small satellites in addition to small and medium-class rockets.
“With the addition of important new strategic customer relationships, a broad range of complementary satellite products and engineering capabilities, and a state-of-the-art production facility, we have significantly strengthened our competitive position in the defense and intelligence, civil government and commercial satellite markets,” David Thompson, chairman and CEO of Orbital, said in a statement.