Lockheed Martin buys Terran Orbital, which focuses on satellite technologies, for $450 million

As a US-based company focusing on space technologies, Lockheed Martinannounced that it will make a new acquisition. According to information provided by Lockheed Martin, the company develops small-sized satellites. Terran OrbitalHe buys .

According to the purchase agreement between Lockheed Martin and Terran Orbital, Lockheed Martin will purchase Terran Orbital. $450 million will pay. The purchase agreement is expected to be officially completed by the end of this year.

Let’s add that Lockheed Martin’s acquisition of Terran Orbital is not a surprise. Lockheed Martin, 2017, 2020 ve 2022 He had invested in Terran Orbital in 1995 and owned 28.3 percent of the company in total. Lockheed Martin, which will purchase Terran Orbital for $0.25 per share, will also pay off the company’s existing debt.

Terran Orbital, founded in the USA in 2013 by Anthony Previte and Marc Bell, satellite design, manufacturing, launch planning, mission operations and on-orbit support provides services on the subject. Lockheed Martin, which was not only an investor for Terran Orbital, was also among the company’s most important customers.

According to the information shared, Terran Lockheed announced plans to purchase Terran Orbital last March. An offer of over $500 million did. Terran Orbital did not accept the purchase agreement worth over $500 million. The reason why Terran Orbital is sold cheaper is the Rivada Space Networks agreement.

Terran Orbital announced that it had made an agreement with Rivada Space Networks company for 2.4 billion dollars and 300 satellites at the beginning of 2023. Afterwards, Rivada delayed its additional payments for the order, and Terran Orbital announced in its last earnings report that it had terminated the Rivada agreement. The collapse of the deal affected Terran Orbital badly and caused it to be sold cheaper.