Boeing Completes Acquisition Of Satellite & Space Systems Provider Millennium Space Systems

---

Boeing has completed its acquisition of satellite and space systems provider Millennium Space Systems. (Photo courtesy of Boeing.)

After announcing its intent to acquire Millennium Space Systems in mid-August, Boeing in late-September completed the acquisition of the El Segundo, Calif.,-based company founded in 2001 by Stan Dubyn, former president and COO of SpaceDev. Millennium is described as a “provider of agile, flight-proven small-satellite solutions.” In addition to previously winning NASA contracts, Millennium has reportedly worked primarily with the U.S. Air Force.

“Exacting Missions”

Boeing says Millennium will function within its Boeing Phantom Works advanced technology division as a subsidiary named Millennium Space Systems. Millennium will keep its “independent operating model” but will benefit from Boeing’s resources, scale, manufacturing capability, and technology research. Millennium will report to Mark Cherry, Boeing’s vice president and general manager of Phantom Works.

On its website, Millennium says it has worked to create “high-performance space systems for demanding National Security customers” since its founding. Millennium employees about 260 people and has developed satellites and space systems for “exacting missions” ranging from about 110 pounds (50 kilograms) to about 13,230 pounds (6,000 kilograms).

A Perfect Complement

Boeing didn’t disclose terms of the acquisition but notes the deal won’t impact its financial guidance or its commitment to “returning approximately 100% of free cash flow to shareholders.” Boeing has previously stated that Millennium’s “expertise in vertically-integrated small-satellite solutions perfectly complements its existing satellite portfolio.” Dubyn has commented on his company’s relationship with Boeing, as well, saying that by “combining our tools, talent, technologies, and culture,” Millennium will be “able to do even more incredible things as part of Boeing.”

In addition to Boeing Phantom Works, Boeing manufactures commercial aircraft and business jets. Controller.com has numerous used Boeing aircraft for sale.

Source: Boeing

Questions? Comments? Visit the Controller Forums to ask questions, get answers, and share your thoughts.