Aerospace giant Northrop Grumman is paying $9.2 billion (€7.7bn) to buy satellite builder Orbital ATK in an all-cash deal. The transaction is expected to close early next year.
Orbital ATK makes rockets as well as satellite and space components. It also has a military side to its business supplying missile and armaments. Indeed, 27 percent of its revenues last year were “restricted” and secret.
Orbital ATK is itself the result of a recent merger. Orbital Sciences and Alliant Technologies merged in 2015. The combined unit employs some 12,000 people.
Recent satellite projects underway include SES-16, Hylas-4 for Avanti, Al-Yah 3 for Abu Dhabi.
Interestingly, it is also building a ‘space tug’, a satellite-in-orbit rescue craft.