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Mon, 20 August 2018

Boeing to Acquire Millennium Space Systems

Boeing has unveiled plans to acquire Millennium Space Systems, a provider of agile, flight-proven small-satellite solutions.

Millennium Space Systems was founded in 2001 and is based in El Segundo, California.

 With approximately 260 employees, the company has developed high-performance satellites for exacting missions ranging from 50kg to more than 6,000kg.

Millennium Space Systems Altair Pathfinder spacecraft. Click to enlarge.

"I am proud of the talented and dedicated team we've built at Millennium Space Systems over the past 17 years," said Stan Dubyn, CEO of Millennium Space Systems. "By combining our tools, talent, technologies and culture, we'll be able to do even more incredible things as part of Boeing."

The acquisition, which is subject to customary conditions, is expected to close by the end of third quarter 2018. Once finalized, Millennium Space Systems will become a Boeing subsidiary, operating under its current business model and reporting to Mark Cherry, vice president and general manager of Phantom Works.

"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," said Leanne Caret, president and CEO of Boeing Defense, Space & Security. "We look forward to incorporating Millennium Space Systems' end-to-end mission solution capabilities into our service offerings in satellite operations and data solutions." 

Terms of the agreement were not disclosed.

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