Lockheed Martin finalized an agreement to buy Terran Orbital

Lockheed Martin has announced a definitive agreement on a transaction worth approximately $450 million to acquire Terran Orbital, a leading provider of satellite-based solutions primarily known for its high-throughput robotic manufacturing and modular space vehicle designs. As stated by the president of Lockheed Martin Space, the company has already worked with Terran Orbital for seven years on various successful missions, utilizing its satellites in key projects, and this acquisition will further bolster Lockheed Martin’s technological advancements and accelerate product development. A new $30 million working capital facility established by Lockheed Martin and other Terran Orbital creditors is part of the arrangement, which is anticipated to close in the fourth quarter of 2024.