© boeing Electronics Production | October 02, 2018
Boeing completes acquisition of Millennium Space Systems
Boeing says that it has completed its acquisition of Millennium Space Systems, a provider of small-satellite solutions. Millennium Space Systems will operate under Boeing Phantom Works as a subsidiary called Millennium Space Systems, A Boeing Company.
Millennium will retain an independent operating model while benefiting from Boeing's resources, scale, manufacturing capability and technology research as a provider of aerospace products and services. Boeing first announced the agreement with Millennium Space Systems back in early August, 2018, pending US government approval. Terms of the approved deal were not disclosed and are said to not have an affect on Boeing's financial guidance. Headquartered in El Segundo, California, Millennium Space Systems has about 260 employees and has developed high-performance satellites and space systems for exacting missions ranging from 50 KG to more than 6'000 KG.