Boeing to Acquire Small Satellite Provider Millennium Space Systems

ALTAIR (left) and AQUILA satellite platforms offered by Millennium Space Systems. (Image courtesy of Millennium Space Systems.)

Many consider small satellites to be the wave of the future when it comes to communication networks, GPS navigation, interplanetary exploration and more. This makes it especially interesting whenever a small satellite developer gets a boost from larger aerospace companies.

Boeing recently announced it will acquire Millennium Space Systems, a provider of agile, flight-proven small-satellite solutions, under an acquisition agreement that will expand Boeing's satellite and space portfolio, talent and capabilities.

"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 Leanne Caret, president and CEO of Boeing Defense, Space & Security. "We look forward to incorporating Millennium Space Systems' end-to-end mission solution capabilities into our service offerings in satellite operations and data solutions."

Millennium Space Systems was founded in 2001 and is based in El Segundo, Calif. With approximately 260 employees, the company has developed high-performance satellites for exacting missions ranging from 50 KG to more than 6,000 KG.

"I am proud of the talented and dedicated team we've built at Millennium Space Systems over the past 17 years," said Stan Dubyn, CEO of Millennium Space Systems. "By combining our tools, talent, technologies and culture, we'll be able to do even more incredible things as part of Boeing."

Millennium Space Systems was recently in the news with their achievement of 10,000 hours in orbit for their ALTAIR Pathfinder satellite. Initially planned as a six-month mission, Pathfinder has completed all it’s planned goals and more than doubled the intended operational lifetime.

ALTAIR Pathfinder spacecraft in final integration at the Millennium Space Systems satellite factory in El Segundo. (Image courtesy of Millennium Space Systems.)

Since its launch in 2017, the ALTAIR Pathfinder accomplished a series of experimental and operational objectives. Completing these objectives, as well as the total orbit hours, have increased ALTAIR’s designs from Technology Readiness Level 5 (TRL5) breadboard testing to TRL 9, flight proven through successful mission operations. The ALTAIR data handling, software, RF communications, power and guidance, navigation are control subsystems are now available at TRL 9 for upcoming operational missions.

It will be interesting to see where Millennium Space Systems will go next, once they are under Boeing.

The acquisition by Boeing, 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 to Mark Cherry, vice president and general manager of Phantom Works.

The terms of the agreement were not disclosed. The transaction will have no impact on Boeing's 2018 financial guidance or the company's commitment to returning approximately 100 percent of free cash flow to shareholders.

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Source: Boeing and Millennium Space Systems