Business

August 17, 2018
 

Boeing to acquire Millennium Space Systems, provider of agile, flight-proven small-satellite solutions

Boeing will acquire Millennium Space Systems, a provider of agile, flight-proven small-satellite solutions, under an acquisition agreement that will expand Boeing’s satellite and space portfolio, talent and capabilities.

“Millennium Space Systems’ expertise in vertically-integrated small-satellite solutions perfectly complements Boeing’s existing satellite portfolio, and will allow us to meet the needs of a diverse customer set,” said Leanne Caret, president and CEO of Boeing Defense, Space & Security. “We look forward to incorporating Millennium Space Systems’ end-to-end mission solution capabilities into our service offerings in satellite operations and data solutions.”

Millennium Space Systems was founded in 2001 and is based in El Segundo, Calif. With approximately 260 employees, the company has developed high-performance satellites for exacting missions ranging from 50 kilos to more than 6,000 kilos.

“I am proud of the talented and dedicated team we’ve built at Millennium Space Systems over the past 17 years,” said Stan Dubyn, CEO of Millennium Space Systems. “By combining our tools, talent, technologies and culture, we’ll be able to do even more incredible things as part of Boeing.”

The acquisition, which is subject to customary conditions, is expected to close by the end of third quarter 2018. Once finalized, Millennium Space Systems will become a Boeing subsidiary, operating under its current business model and reporting to Mark Cherry, vice president and general manager of Phantom Works.

The terms of the agreement were not disclosed. The transaction will have no impact on Boeing’s 2018 financial guidance or the company’s commitment to returning approximately 100 percent of free cash flow to shareholders.




All of this week's top headlines to your email every Friday.


 
 

 
Lockheed Martin photograph

Northrop Grumman to produce first insensitive munitions rocket motors for GMLRS Program

Lockheed Martin photograph Northrop Grumman will produce the first insensitive munitions rocket motors for the U.S. Army’s Guided Multiple Launch Rocket System (GMLRS), a technology designed to enhance warfighter safety and l...
 
 
Northrop Grumman photograph

Northrop Grumman begins MQ-8C Fire Scout flight tests in Mississippi

Northrop Grumman photograph Northrop Grumman’s MQ-8C Fire Scout takes off for its first flight out of Trent Lott International Airport in Moss Point, Miss. Northrop Grumman recently began flight tests for MQ-8C Fire Scout air...
 
 

Boeing to update P-8A Poseidon training system for U.S. Navy

Boeing has won a contract award from the U.S. Navy to update the courseware and software for the Navy’s P-8A Poseidon training system. Under the four-year, $194 million agreement, Boeing will upgrade devices at three locations for the U.S. Navy and the Royal Australian Air Force to reflect the latest configuration of the Poseidon maritime...