Millennium developed ALTAIR avionics and software using modern technologies and methods. Photo courtesy of Millennium Space Systems

Arlington, Va., USA - August 16, 2018

• Combined capabilities will provide customers with advanced small-satellite technologies and flexible solutions

Boeing (NYSE: BA) will acquire Millennium Space Systems, a provider of agile, flight-proven small-satellite solutions, under an acquisition agreement that will expand Boeing's satellite and space portfolio, talent and capabilities.

Photo courtesy of Millennium Space Systems

"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."

Millennium Space Systems ALTAIR™ Pathfinder Satellite Surpasses 10,000 Hours in Orbit. Photo courtesy of Millennium Space Systems

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

http://www.millennium-space.com/   


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

Millennium Space Systems announces the successful completion of its ALTAIR Pathfinder mission objectives last week as the spacecraft reached its six-month milestone and 4,500 hours of successful operations in low earth orbit. Photo courtesy of Millennium Space Systems

"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."

Millennium Space Systems adds a new flight-proven ALTAIR spacecraft to its family of heritage spacecraft through a successful on-orbit deployment from NanoRacks commercial launch service. Photo courtesy of Millennium Space Systems

The acquisition, which is subject to customary conditions, is expected to close by the end of third quarter 2018.

ALTAIR Pathfinder Spacecraft Ships to Commercial Launch Integrator for Manifest Aboard NASA’s International Space Station for Maiden Flight Pre-Production Technology Demonstrator Paves the Way for Affordable High-Performance Satellite Constellations. Photo courtesy of Millennium Space Systems

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.

The terms of the agreement were not disclosed.

Millennium Space Systems Receives Order from SSL for Follow-on Buy of Reaction Wheels. Photo courtesy of Millennium Space Systems

The transaction will have no impact on Boeing's 2018 financial guidance or the company's commitment to returning approximately 100 percent of free cash flow to shareholders.

For more information about Boeing Defense, Space & Security,

visit  www.boeing.com  or follow us on Twitter @BoeingDefense.


Contact

Chaz Bickers
Boeing Communications
+1 312-544-2002
charles.n.bickers@boeing.com  

Eric Carlson
Boeing Communications
+1 703-414-6252
+1 314-651-6240
eric.j.carlson2@boeing.com  


SOURCE  Boeing

http://boeing.mediaroom.com/  



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