Finance

Boeing on Wednesday said it has agreed to provide $50 million to anchor a new aerospace technology venture fund that is privately-managed by the company’s partner AE Industrial Partners (AEI), a private equity firm. The new investment in AEI HorizonX will be put toward the venture capital platform’s second fund, which aims to raise $250 million to...

Raytheon Technologies on Monday said its United Kingdom-based subsidiary has agreed to acquire another U.K.-based company, Northern Space and Security Ltd. (NORSS), that specializes in space domain awareness. Terms of the deal were not disclosed. NORSS provides orbital analyst services to the U.K. Space Agency, including capabilities for government and U.K. satellite operators. NORSS also...

Sales in Lockheed Martin’s Space segment decreased $352 million, or 11% in the second quarter of 2022, compared to the same period in 2021. Lockheed Martin overall saw a dip in sales in the second quarter — sales declined 9.4% compared to the same time last year.  Lockheed took a hit in sales after the United...

NanoAvionics, the highly touted, Lithuanian startup small satellite company is set to be acquired by Kongsberg Defence & Aerospace (Kongsberg) under a deal announced earlier this month. The acquisition could enable NanoAvionics to be even more of a factor on the global stage. NanoAvionics has more than 150 employees and has contributed to 120 missions and commercial...

Airbus is launching a new connectivity service business around its HAPS technology platform, Zephyr, led by former Intelsat CCO Samer Halawi. The new venture, HAPS Services Business, is a subsidiary of Airbus Defence and Space.  HAPS — high altitude platform stations — operate in the stratosphere, much closer to Earth than satellites, and can provide...

Holly Johnson will lead manufacturer MDA’s Robotics and Space Operations (RSO) division on a permanent basis after taking on the role in an acting capacity earlier this year. MDA promoted Johnson to Vice President of the division and confirmed she will report directly to MDA CEO Mike Greenley. A professional engineer and recipient of Canada’s...

Satellite operator Measat has made two new key executive appointments as it looks to build for the future. It has appointed Ganendra Selvaraj as its new Chief Commercial Officer and Jeevan Rao, as its new Associate Vice President, Network Engineering & Operations. Measat announced the appointments July 8. The company recently saw the successful launch...

A new venture capital firm Stellar Ventures recently launched a fund with more than $23 million in capital commitments dedicated to investing in space technology. Celeste Ford, founder of aerospace engineering services company Stellar Solutions, started Stellar Ventures this year. The firm announced the new fund, SV Andromeda Fund LP, on Thursday.  The firm plans...

Kleos Space’s U.K subsidiary is setting up operations at the Space Park Leicester research hub. Kleos plans for the new UK facility to provide access to a tech community, and facilities for research, development, and manufacturing. The radio frequency (RF) data company announced the move on Wednesday.  Space Park Leicester is a project led by...

L3Harris is making a strategic investment in Mynaric, investing 11.2 million euros ($11.4 million) in the business for a 7.2% share. L3Harris will acquire 409,294 new bearer shares of Mynaric at a price of around 27.37 euros per share. The companies announced the investment on Wednesday. Under the investment, Mynaric will become a preferred provider...