Boeing has bought satellite maker Millennium Space Systems for an undisclosed sum. Millennium’s staff will become part of Boeing’s Defense, Space and Security Division. "We expect the acquisition to fill out the low end of Boeing’s existing satellite family and take advantage of the market pivot to smaller, less expensive satellites," said Robert Spingarn, a New York-based analyst with Credit Suisse. Millennium makes small satellites, including the type utilised by the reusable unmanned Phantom Express space plane Boeing is developing for the US military, which ferries satellites weighing up to 1,300kg into orbit. The deal was announced at a press conference in Washington on Tuesday alongside representatives from other companies that are working with Boeing on its new constellation. To date, $1bn has been committed, with a further $8bn expected over the next five years.
Boeing has bought satellite maker Millennium Space Systems for an undisclosed sum. Millennium’s staff will become part of Boeing’s Defense, Space and Security Division. Millennium makes small satellites, including the type utilised by the reusable unmanned Phantom Express space plane Boeing is developing for the US military, which ferries satellites weighing up to 1,300kg into orbit. The deal was announced at a press conference in Washington on Tuesday alongside representatives from other companies that are working with Boeing on its new constellation. To date, $1bn has been committed, with a further $8bn expected over the next five years.