General Dynamics sells satellite business

General Dynamics sells satellite business

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US: General Dynamics (GD) sold its satellite development and manufacturing business to Orbital Sciences Corporation (ORB). General Dynamics’ subsidiary Advanced Information Systems used to oversee the business. The purchase consideration was USD 55 million.

The acquisition is expected to enhance Orbital’s already-established position in the growing market for national security space systems, including spacecraft used in intelligence and surveillance, missile tracking, space situational awareness, space weather monitoring and other operational defence missions. The combination will also substantially strengthen the company’s capabilities to design and manufacture Earth science, weather and climate monitoring, and space-based astronomy satellite systems.

Orbital’s primary products are satellites and launch vehicles, including low-Earth orbit, geosynchronous-Earth orbit and planetary exploration spacecraft for communications, remote sensing, scientific and national security missions; human-rated space systems for Earth-orbit, lunar and deep-space missions; ground- and air-launched rockets that deliver satellites into orbit and missile defence systems that are used as interceptor and target vehicles.

General Dynamics, headquartered in Falls Church, Virginia is a key player in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies.

Source: Benzinga