Lockheed Martin Ventures makes strategic investment in Terran Orbital
Lockheed Martin Ventures has made a strategic investment in Terran Orbital, a firm that offers nanosatellite design, development, manufacturing, testing and launch services.
This transaction comprises cash and in-kind investments for an equity stake in Terran.
Lockheed Martin Ventures executive director and general manager Chris Moran said: "Terran brings established customer relationships across a broad range of civil, military, commercial and classified customers.
"The opportunity to invest in a nanosat leader allows us to address our customer's increasing interest in rapid, responsive and cost-effective technology missions and demonstrations."
In the past, Lockheed Martin has collaborated with Terran on US Department of Defence and Nasa missions. The latest investment extends the relationship.
Terran Orbital CEO Tony Previte said: "An equity investment by Lockheed Martin allows us to grow our business while further solidifying our relationship with the leader in aerospace and defense to provide a broader range of innovative solutions to our customers."
Since 2007, Lockheed Martin has been providing funding to venture stage companies. Last year, the firm refocused to long term, strategic investments in technology innovations that could boost growth for Lockheed Martin in existing and new markets.
Lockheed Martin primarily invests in early-stage companies, and its technology priorities include autonomous systems and robotics, cybersecurity, artificial intelligence, advanced electronics and sensor technologies.
Based in Bethesda, Maryland, Lockheed Martin employs 97,000 people worldwide.
It is engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
Terran Orbital is a provider of nanosatellite and microsatellite vehicles, services, and solutions.
Through its Tyvak and Tyvak International brands, Terran Orbital works with customers to produce advanced mission solutions.