Boeing to Buy Small Satellite Developer Millennium Space Systems; Leanne Caret Quoted

Leanne Caret

Boeing (NYSE: BA) has agreed to purchase El Segundo, Calif.-based Millennium Space Systems for an undisclosed sum in an effort to broaden its portfolio of space and satellite platforms.

Boeing said Thursday it expects the acquisition to conclude by the end of the third quarter of 2018 and will operate Millennium Space Systems as a subsidiary that will report to Mark Cherry, vice president and general manager of Boeing’s Phantom Works business, upon the deal’s closure.

Leanne Caret, president and CEO of Boeing’s defense, space and security business, said the company aims to meet the requirements of a diverse client pool through the addition of Millennium Space Systems’ small-satellite systems to Boeing’s current portfolio.

Caret, a two-time Wash100 recipient, added that Boeing will integrate end-to-end mission capabilities from Millennium Space Systems with its service offerings in the field of data and satellite operations.

Established in 2001, Millennium Space Systems has about 260 employees and builds high-performance satellites whose mass ranges from 50 to 6,000 kilograms.

Boeing said the transaction is subject to customary closing conditions and will have no impact on its financial guidance for 2018.

You may also be interested in...

Young Bang, Chief Growth Officer for Atlas Research

Atlas Joins DMI-Led Air Force Enterprise Transformation Contract Team; Young Bang Quoted

Atlas Research is part of a Digital Mobilizations Inc.-led team that won a position on a five-year, $990M contract vehicle to help the U.S. Air Force implement and manage enterprise transformation initiatives.

HIMARS launcher

State Dept OKs $1.8B in HIMARS Launchers, Recce Pods, Missile Purchase Requests From Taiwan

The State Department has approved Taiwan’s request to buy high mobility artillery rocket system launchers, AGM-84H standoff land attack missile-expanded response systems, MS-110 recce pods and related equipment and services under three foreign military sales agreements worth approximately $1.8B combined.