Northrop Grumman put some skin in the space race game with a big $9.2 billion ($7.8 billion in cash, plus the assumption of $1.4 billion in net debt) acquisition of Orbital ATK – a current supplier to the International Space Station (ISS).
Orbital ATK is one of 3 suppliers to the ISS: Space X, Sierra Nevada Corp. and Orbital ATK. The company has its fingers in Flight, Defense, and Space technologies/logistics. In the last tally, they had a $4.5 billion revenue year.
Northrop Grumman is a classic and well established defense aerospace company with $24.5 billion in revenue in 2016. The company has an aerospace division with aircraft, spacecraft, high-energy laser systems and microelectronics supplied for the US and other foreign nations. The company’s more famous products are the B-1, B-52, and the F/A-18 Hornet strategic plane.
The only current space related client had been the 2014 NASA contract for the highly anticipated James Webb Space Telescope (which is due to launch in 2018).
The space race is heating up – a race for the billions in future explorations.