Boeing has agreed to acquire US-based small-satellite solutions provider Millennium Space Systems for an undisclosed sum.
Through the deal, Boeing aims to expand its satellite and space portfolio as well as its talent and capabilities.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Subject to customary conditions, the deal is scheduled to be completed by the end of the third quarter of this year.
Following completion, Millennium Space Systems will become a Boeing subsidiary but will continue to operate under its current business model. It will report to Boeing Phantom Works vice-president and general manager Mark Cherry.
Established in 2001, Millennium Space Systems currently employs around 260 people and has developed satellites for exacting missions ranging from 50kg to more than 6,000kg.
Boeing Defense, Space & Security President and CEO Leanne Caret said: “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.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“We look forward to incorporating Millennium Space Systems’ end-to-end mission solution capabilities into our service offerings in satellite operations and data solutions.”
Earlier this month, Boeing HorizonX Ventures participated in a Series B funding round led by G20 Ventures to invest in US-based additive manufacturing company Digital Alloys.
Digital Alloys’s Joule Printing metal additive manufacturing technology uses wire feedstock and high deposition rates to print metal parts more quickly and at a reduced cost.
The 3D-printed parts can be used in aerospace and other production applications.
