Finance

Lockheed Martin announced May 4 its Space segment will reorganize its business lines in the coming months, going from five to three lines to better keep up with customer needs, speed innovation, and bolster competitiveness. The new alignment continues the Commercial Civil Space, and the Strategic and Missile Defense Systems lines, and adds National Security...

Globalstar reported record growth in the first quarter of 2023, and expects more growth to come this year, highlighting opportunities commercializing its Band 53 spectrum.  The operator released its first quarter 2023 results on May 5, announcing it signed a new partnership this week for a terrestrial service using its Band 53 spectrum. This deal...

Charlotta Sund will become the new CEO of Swedish Space Corporation (SSC), the company announced May. 4. Sund will start the role in the fall of this year, and succeeds the current CEO Stefan Gardefjord who retires after 12 years in the company. Sweden aims to take lead role in global space development, and its...

New geospatial satellite startup Nuview emerged from stealth mode on Thursday, with plans to build the first commercial LiDAR satellite constellation.  LiDAR — which stands for Light Detection and Ranging — collects 3D data of Earth. Nuview says the issue is that only about 5% of the Earth’s landmass has been mapped with LiDAR, which...

SES grew revenue nearly 10% in the first quarter of 2023, with a boost from its DRS Global Enterprise Solutions acquisition and the stronger U.S. dollar.  The operator reported 490 million euros ($540 million) in revenue in the first quarter of 2023, compared to 448 million euros ($494 million) in the same time last year....

Private equity firm Advent International has closed its acquisition of Maxar, including a minority investment from British Columbia Investment Management Corporation. Maxar will no longer be a publicly traded company and its stock is no longer trading.  The deal, announced in December, acquired Maxar for $53 per share, a premium over Maxar’s trading value. The...

ABS has appointed Ramsey Khanfour as its new chief commercial officer (CCO), the company announced May 1. Prior to joining ABS, Ramsey was vice president of Sales and Business Development at SES, focusing on government, telcos/MNOs, cloud, energy, mobility and media verticals. Khanfour previously held senior roles with Booz & Co, STC, Orange Business Services,...

Revenue at satellite technology company SatixFy fell by 50% in 2022, as supply chain challenges caused order delays and cancellations, the company said.  SatixFy reported its first full-year financial results on Monday after the company went public at the end of October through a special purpose acquisition company (SPAC) merger.  Revenue was $10.6 million in...

Avanti Communications has made a move to expand its presence into Africa. The operator is opening a new flagship office in Ikoyi, Lagos. Nigeria is a huge market in Africa with a population of over 210 million people. The company announced the opening of the office April 26. Avanti has invested over $800 million in...

L3Harris Technologies on April 27 reported a sharp drop in first quarter earnings driven by higher interest and pension expenses and a combination of costs related to acquisitions and divestitures despite strong sales. Net income slid 29 percent to $339 million, $1.76 earnings per share (EPS), from $475 million ($2.44 EPS) a year ago. Excluding...