Lockheed Martin today announced that Intelsat will acquire Lockheed Martin’s COMSAT General business.
The purchase price is $90 million in cash, with an option for Intelsat, in certain circumstances, to substitute up to $40 million in stock for cash.
The transaction is not expected to have a material impact on Lockheed Martin’s results or financial position.
Additionally, Intelsat will purchase an Atlas launch vehicle from Lockheed Martin Commercial Launch Services, a subsidiary of Lockheed Martin, for the launch of a future satellite.
While Lockheed Martin and Intelsat pursue requisite regulatory approvals from the US government, COMSAT General will continue to operate as a Lockheed Martin business.
The businesses’ main office is located in Bethesda, MD. Additionally it has offices in Clarksburg, MD, Paumalu, HI and Landstuhl, Germany and employs approximately 30 people.