Irvine-based Terran Orbital has been awarded a contract to design, build and deploy 300 satellites.

Terran Orbital acquired for $450M

Terran Orbital, the world’s leading provider of nanosatellites and microsatellites, with major operations in Irvine, is set to embark on a new chapter after its acquisition by defense giant Lockheed Martin.

Terran Orbital, the world’s leading provider of nanosatellites and microsatellites, with major operations in Irvine, is set to embark on a new chapter after its acquisition by defense giant Lockheed Martin.

The $450 million deal, expected to close by the end of this year, promises to bolster Terran’s position in the aerospace and defense industries.

“This transaction combines our strengths and expertise,” says Marc Bell, chairman, CEO and co-founder of Terran Orbital. “This move will open new opportunities for growth and innovation, and we couldn’t be more excited about the future.”

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