Lockheed to Acquire GalacticSky Satellite Tech From Vector

Lockheed Martin (NYSE: LMT) will acquire by default Vector’s satellite technology assets in bankruptcy proceedings after the U.S. Bankruptcy Court for the District of Delaware announced that no qualified bids were submitted by a Feb. 21 deadline, SpaceNews reported Monday.

Lockheed will gain access to Vector’s GalacticSky software-defined satellite technology for $4.25M as part of a deal that is expected to be completed at a Feb. 28 court hearing.

The transaction will put an end to Vector, which received debtor-in-possession financing from Lockheed when it filed for Chapter 11 bankruptcy in December.

Sponsor

Stay ahead in GovCon

Join thousands of government contractors who rely on GovCon Wire for the latest updates in federal spending, bid opportunities, and compliance changes.

Whether you’re new to the space or scaling up, our brief keeps you informed and ready to act.

I'm Interested In:

GovConWire Daily Briefings

Email Address *

First Name *

Last Name

Position

Company

DCSA Plans Consolidation of Three Contracts Under Future BOSS Competition

DCSA has approved a strategy to combine three support efforts into a single BOSS contract opportunity The unified contract is…

The White House’s Gold Eagle Initiative: Strengthening Public- Private Partnerships to Safeguard Critical Infrastructure in the AI Era

Chuck Brooks is the president of Brooks Consulting International and one of Executive Mosaic’s GovCon Experts. As a longtime advocate for cybersecurity…

Lockheed to Acquire GalacticSky Satellite Tech From Vector

Related Articles

Executive Interviews

About GovConWire

ExecutiveGov

ExecutiveBiz