Lockheed Martin Plans To Acquire Orbital Terran

Lockheed Martin will acquire Terran Orbital. (photo: dock. Orbital Terran)

JAKARTA After canceling the acquisition of Terran Orbital in early May, Lockheed Martin again plans to acquire the company. Most likely, the acquisition value is smaller than before.

Pada Maret lalu, Lockheed ingin mengakuisisi Terran Orbital sebesar 500 juta dolar AS (Rp7,8 triliun) dengan pembayaran sebesar 1 dolar AS untuk setiap lembar saham. Sekarang, Terran Orbital akan dibeli seharga 0,25 dolar AS (Rp3,929) per sahamnya secara tunai.

Lockheed will also pay off existing debts, just as they promised when they wanted to buy the Terran Orbital a few months ago. The hope is that this deal will close in the fourth quarter when the company's value reaches 450 million US dollars (Rp 7 trillion).

"We have been working with Terran Orbital for more than seven years on successful missions," said Lockheed President Martin Space Robert Lightfoot, quoted by Spacenews. "We look forward to welcoming them to our team."

Over the years, Lockheed has always invested in Terran Orbital, such as buying small satellite buses from the company. Lockheed wants to continue to make Terran a commercial supplier for the industry so they want to acquire it.

However, it remains unclear why Lockheed canceled their acquisition plan last May. Although Lockheed said that they would continue to maintain existing partnerships, Terran faced financial pressure after that.

In a letter submitted to the US Securities and Exchange Commission (SEC) on August 12, Terran said they were looking for strategic options to address short-term capital needs.

The company tried to take more debt, make several other strategic transactions, to sell the company. With this situation, Terran may immediately agree with Lockheed's acquisition plan to re-submit.