{"id":44452,"date":"2024-08-15T20:19:00","date_gmt":"2024-08-15T20:19:00","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m"},"modified":"2024-08-15T20:39:04","modified_gmt":"2024-08-15T20:39:04","slug":"lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m","title":{"rendered":"Lockheed Martin to acquire satellite manufacturer Terran Orbital for $450M"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>American aerospace and defense corporation, Lockheed Martin, said Thursday it signed a definitive agreement to acquire satellite manufacturer Terran Orbital for $450 million.<\/p>\n

The deal to acquire Terran Orbital, which manufactures satellites mostly for the aerospace and defense industries, is expected to bring a broader range of capabilities and value for customers, Lockheed Martin said in a statement.<\/p>\n

“We’ve worked with Terran Orbital for more than seven years on a variety of successful missions,” said Robert Lightfoot, president of Lockheed Martin Space. “Their capabilities, talent and business momentum align with Lockheed Martin Space’s strategic plans.”<\/p>\n

“Our customers require advanced technology and even faster product development, and that’s what we can achieve together,” he added.<\/p>\n

Terran Orbital focuses on robotic manufacturing and high-performing modular space vehicle designs.<\/p>\n

Marc Bell, chairman, CEO and co-founder of Terran Orbital, said the deal will open new opportunities for growth and innovation by combining the companies’ strengths and expertise.<\/p>\n

“Access to Lockheed Martin’s incredible engineers and world class facilities will only accelerate our business plan to provide low-cost, high-value solutions to our ever-growing customer base,” he said.<\/p>\n

After the announcement of the deal, shares of Terran Orbital plummeted 40% on The New York Stock Exchange.<\/p>\n

Lockheed Martin shares have been fluctuating during the session, while they were down by less than 1% around 2.20 p.m. EDT.<\/p>\n

As part of the agreement, Lockheed Martin and other current Terran Orbital creditors will establish a new $30 million capital facility.<\/p>\n

The deal is expected to close in the fourth quarter of this year.<\/p>\n

Terran Orbital has supported more than 80 missions in the past decade for government and commercial customers, from low earth orbit to the moon, according to the statement.<\/p>\n

Lockheed Martin is Terran Orbital’s largest customer as of Thursday, it added.<\/p>\n

For More News And Analysis About Mauritius Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. American aerospace and defense corporation, Lockheed Martin, said Thursday it signed a definitive agreement to acquire satellite manufacturer Terran Orbital for $450 million. The deal to acquire Terran Orbital, which manufactures satellites mostly for the aerospace and defense industries, is expected to bring a broader range of capabilities and value for customers, […]<\/p>\n","protected":false},"author":84,"featured_media":44451,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[4005,241,4007,4006],"class_list":["post-44452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-lockheed-martin","tag-mauritius","tag-satellite","tag-terran-orbital"],"yoast_head":"\nLockheed Martin to acquire satellite manufacturer Terran Orbital for $450M - Mauritius<\/title>\n<meta name=\"description\" content=\"American aerospace and defense corporation, Lockheed Martin, said Thursday it signed a definitive agreement to acquire s ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lockheed Martin to acquire satellite manufacturer Terran Orbital for $450M\" \/>\n<meta property=\"og:description\" content=\"American aerospace and defense corporation, Lockheed Martin, said Thursday it signed a definitive agreement to acquire s ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-15T20:19:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-15T20:39:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/08\/sm_1723738076.829401.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Lockheed Martin to acquire satellite manufacturer Terran Orbital for $450M\",\"datePublished\":\"2024-08-15T20:19:00+00:00\",\"dateModified\":\"2024-08-15T20:39:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m\"},\"wordCount\":316,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/08\/sm_1723738076.829401.jpg\",\"keywords\":[\"lockheed Martin\",\"Mauritius\",\"satellite\",\"Terran Orbital\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lockheed-martin-to-acquire-satellite-manufacturer-terran-orbital-for-450m\",\"name\":\"Lockheed Martin to acquire satellite manufacturer Terran Orbital for $450M - 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