Lockheed Martin offers to buy startup satellite maker Terran Orbital
Lockheed Martin now has submitted an offer to buy the startup satellite maker Terran Orbital for $293 million.
Lockheed Martin has submitted a nonbinding offer to buy satellite maker Terran Orbital’s 223 million outstanding shares for $1 each and pay $70 million for its outstanding warrants.
Lockheed Martin also offered to cover about $313 million of the company’s outstanding debt.
Lockheed already owns 28.3% of Terran Orbital, and uses the satellite maker to produce its military satellites, so this deal seems a good fit. It also fits the overall long term strategy of Lockheed, which has been investing in a number of other startups (such as rocket startups Rocket Lab and ABL). The company has clearly seen the future. Rather than continue working like an old-style bloated big space company, it has been using these new companies as models for its future work.
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Lockheed Martin now has submitted an offer to buy the startup satellite maker Terran Orbital for $293 million.
Lockheed Martin has submitted a nonbinding offer to buy satellite maker Terran Orbital’s 223 million outstanding shares for $1 each and pay $70 million for its outstanding warrants.
Lockheed Martin also offered to cover about $313 million of the company’s outstanding debt.
Lockheed already owns 28.3% of Terran Orbital, and uses the satellite maker to produce its military satellites, so this deal seems a good fit. It also fits the overall long term strategy of Lockheed, which has been investing in a number of other startups (such as rocket startups Rocket Lab and ABL). The company has clearly seen the future. Rather than continue working like an old-style bloated big space company, it has been using these new companies as models for its future work.
The support of my readers through the years has given me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Four years ago, just before the 2020 election I wrote that Joe Biden's mental health was suspect. Only in this year has the propaganda mainstream media decided to recognize that basic fact.
Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Even today NASA and Congress refuse to recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
Please consider supporting my work here at Behind the Black.
You can support me either by giving a one-time contribution or a regular subscription. There are five ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation:
5. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above. And if you buy the books through the ebookit links, I get a larger cut and I get it sooner.
Or are they buying up the competition so that only the old ways remain? Maybe they need to add people that have not been destroyed and demoralized by the old ways and can actually design and build something? The taxpayer spice must flow.
John: What you suggest is of course a possibility, since without doubt there are people at Lockheed who don’t like the new ways. However, the company’s management has mostly shown full support for the new ways. It is its financing that helped make Rocket Lab exist. Its approach to satellite-making has been very creative and open to new ways. Unlike Boeing, it has shown great flexibility in dealing with the new competition, using it rather than fighting it.
In the endless battles between resistance to change and its embrace, it is never actually “won.” Each side only receives “aid” – foreign or domestic. With – in this case, the “foreign” of endless value!
John–
question: how much revenue does Lockheed Martin make from weapons sales?