Boeing to Acquire Millennium Space Systems, Adding SmallSat Capabilities
Boeing will acquire Millennium Space Systems, a provider of agile, small-satellite solutions, under an acquisition agreement that will expand Boeing’s satellite and space portfolio, talent, and capabilities. California-based Millennium Space Systems was founded in 2001 and develops high-performance satellites for exacting missions ranging from 50 kilogram (kg) to more than 6,000 kg.
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 Phantom Works Vice President and General Manager Mark Cherry.
“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 Boeing Defense, Space, and Security President and Chief Executive Officer (CEO) Leanne Caret. The terms of the agreement were not disclosed.