Finance

Intelsat has made an investment into Israel-based satellite technology firm hiSky, along with a strategic collaboration agreement. hiSky announced the investment on Feb. 5. Along with the investment, Intelsat CTO Bruno Fromont is joining hiSky’s board of directors as an observer. hiSky said one of the main outcomes of this collaboration will be a solution...

Viasat plans to initiate service soon with the first ViaSat-3 satellite, which has just a fraction of its planned capacity due to an issue with an antenna on board. The operator announced in its Feb. 6 quarterly results that it plans to start commercial in-flight connectivity service on the satellite in the quarter of its...

Satellite network management startup Quindar raised an additional $6 million in seed extension rounds from FUSE with the continued investment from Y-Combinator and Funders Club, the company announced in late January. The company plans to use the funding to elevate its spacecraft management software using AI-driven insights and operations.  Last January, Quindar raised $2.5 million...

Satellite-to-cell company Lynk Global officially plans to go public through a special purpose acquisition company (SPAC) merger with a blank check company led by baseball star and entrepreneur Alex ‘A-Rod’ Rodriguez. Lynk and Slam Corp. SPAC announced Monday they entered into a definitive business combination agreement to merge. The boards of directors of Lynk and...

Terran Orbital on Monday said it has reached agreement with a group of investors that had been seeking management and other changes, including the replacement of current CEO Marc Bell, although the only concrete change appears to be moving forward with filling a board seat that has been vacant since July 2022. The concerned investor group,...

Revenue for Boeing Defense, Space & Security (BDS) increased 8% in 2023 compared to 2022, and the segment narrowed its net loss as it works to improve operating margin, particularly on satellite programs.  BDS revenue was about $25 billion in 2023, compared to $23 billion in 2022, according to Boeing’s fourth quarter results released on...

Eutelsat has completed the sale of OneWeb’s 50% share in the Airbus OneWeb Satellites joint venture. The co-owner of the Florida-based business, Airbus U.S. Space & Defense, acquired the stake. The company built the satellites for the OneWeb First Generation constellation. Eutelsat announced the completion of the sale on Jan. 29, along with an update...

L3Harris grew revenue by 14% in 2023 compared to 2022, primarily due to acquiring Aerojet Rocketdyne and Viasat’s Tactical Data Links business. L3Harris reported $19.4 billion in revenue in 2023, according to its full year results released Jan. 26. Operating income was $1.4 billion, up 27% compared to 2022.  Both segments that deal in satellite...

Northrop Grumman’s Space segment delivered another year of growth in 2023, posting 14% year-over-year growth. Space Systems was the largest and fastest-growing segment in the company in 2023, with $13.9 billion in revenue.  This continues a double-digit growth streak for the Space Systems segment. In 2022, the Space segment grew 16% year-over-year. In 2021, Northrop...

The European space sector has been boosted by the news of a key financial collaboration by some of the key stakeholders in Europe. The European Commission, the European Investment Bank (EIB), and the European Space Agency (ESA) have signed a collaboration arrangement to join forces to strengthen the European space sector. This will include small...