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