Lock­heed Martin Ven­tures an­nounces in­vest­ment in Ter­ran Or­bital

SP's MAI - - CORPORATE NEWS -

Lock­heed Martin Ven­tures is mak­ing a strate­gic in­vest­ment in Ter­ran Or­bital, an ex­pert in nanosatel­lite de­sign, de­vel­op­ment, man­u­fac­tur­ing, test­ing and launch. The in­vest­ment will cre­ate op­por­tu­ni­ties for the com­pa­nies to share their ex­per­tise and cus­tomer re­la­tion­ships to ad­vance this emerg­ing tech­nol­ogy.

“Ter­ran brings es­tab­lished cus­tomer re­la­tion­ships across a broad range of civil, mil­i­tary, com­mer­cial and clas­si­fied cus­tomers,” said Chris Mo­ran, Ex­ec­u­tive Di­rec­tor and Gen­eral Man­ager of Lock­heed Martin Ven­tures. “The op­por­tu­nity to in­vest in a nanosat leader al­lows us to ad­dress our cus­tomer’s in­creas­ing in­ter­est in rapid, re­spon­sive and cost-ef­fec­tive tech­nol­ogy mis­sions and demonstrations.”

The agree­ment in­cludes cash and in-kind in­vest­ments for an eq­uity stake in Ter­ran. Lock­heed Martin has part­nered with Ter­ran in the past on Depart­ment of De­fense and NASA mis­sions. This in­vest­ment will al­low for an ex­pan­sion of that re­la­tion­ship.

“An eq­uity in­vest­ment by Lock­heed Martin al­lows us to grow our busi­ness while fur­ther so­lid­i­fy­ing our re­la­tion­ship with the leader in aero­space and de­fense to pro­vide a broader range of in­no­va­tive so­lu­tions to our cus­tomers,” said Tony Pre­vite, CEO of Ter­ran Or­bital.

While Lock­heed Martin has pro­vided fund­ing to ven­ture stage com­pa­nies since 2007, it re­fo­cused in 2016 to longer term, strate­gic in­vest­ments in tech­nol­ogy in­no­va­tions that could drive growth in ex­ist­ing, ad­ja­cent and new mar­kets for Lock­heed Martin. The fund in­vests pri­mar­ily in early-stage com­pa­nies, and its tech­nol­ogy pri­or­i­ties in­clude au­ton­o­mous sys­tems and ro­bot­ics, cy­ber se­cu­rity, ar­ti­fi­cial in­tel­li­gence, ad­vanced elec­tron­ics and sen­sor tech­nolo­gies.

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