Lockheed Martin to Rescue Terran Orbital: A Multi-Million Dollar Deal
Lockheed Martin to Rescue Terran Orbital: A Multi-Million Dollar Deal
Lockheed Martin is set to acquire satellite manufacturer Terran Orbital for $450 million, taking the smaller company private and potentially saving it from running out of cash and facing serious debt. The two companies already had a relationship, with Lockheed Martin Ventures making several investments in Terran Orbital. Lockheed already owned a 28.3% stake in Terran Orbital, while Lockheed contracts represent about 70% of Terran Orbital’s revenue and 91% of its backlog. But why is Lockheed Martin so interested in rescuing Terran Orbital?