U.S. aerospace leader Boeing Company announced Tuesday the completion of acquisition of California-based Millennium Space Systems, a provider of agile small-satellite solutions.
Boeing said the new firm will operate under Boeing Phantom Works as a subsidiary that will retain an independent operating mode while benefiting from the world aircraft giant's technology, resources, scale and manufacturing capability.
The buyout plan was first unveiled last month, but Boeing did not dis the specific terms of the deal.
Millennium Space Systems, which has about 260 employees and specializes in military satellites, joined Boeing's other subsidiaries, including Insitu that builds fixed-wing drones, Aurora Flight Sciences focusing on vertical takeoff-and-landing aircraft, Liquid Robotics specialized in undersea drones, Jeppesen that provides flight support software and charts, as well as Aviall which makes aerospace parts.
Millennium's primary customer is the U.S. Air Force, and it has developed high-performance satellites and space systems for exacting missions ranging from 50 KG to more than 6,000 KG.
