Lockheed Martin is buying satellite tv for pc maker Terran Orbital, taking the smaller firm personal and doubtlessly protecting it from operating out of money and crippling debt.
Though Terran Orbital itself wasn’t based till 2013, its roots date again to the late Nineteen Nineties, when the event of CubeSats grew to become the flagship of a brand new wave of small satellites. Most just lately, the corporate went public by a merger with a SPAC in 2022, valuing it at $1.8 billion.
The 2 corporations have already got a partnership, with Lockheed Martin Ventures making a number of investments in Terran Orbital again in 2017. % stake, whereas the Lockheed Martin contract accounts for roughly 70% of Terran Orbital’s income and 91% of its backlog.
So Lockheed will need to have some incentive to save lots of the satellite tv for pc producer from chapter. It even tried to accumulate Terran Orbital earlier this 12 months, however the smaller firm used a “poison tablet” to dam the deal.
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