It is being reported that Orbital ATK Inc. has been acquired by Northrop Grumman Corporation. The transaction will close in the first half of 2018, pending on the receipt of regulatory approvals.
Orbital AK specializes in the design, building and delivery of space, defense and aviation systems for customers around the world, both as a prime contractor and merchant supplier. Its main product offerings include launch vehicles and related propulsion systems; missile products, subsystems and defense electronics; satellites and associated space components and services; and advanced aerospace structures. Many of the components used for space are constructed out of a variety of stainless steels and corrosion resistant alloys, because these types of materials can withstand severe service environments. Northrop Grumman is a global security company that provides systems, products and solutions to government and commercial customers around the world.
The acquisition of Orbital ATK by Northrop Grumman creates substantial value for our stockholders and enhances our capability to accelerate product development and technology innovation in support of our customers critical missions, says David W. Thompson, Orbital ATKs President and Chief Executive Officer. The transaction also enables our employees to benefit from new opportunities and career paths as part of a larger and more diverse aerospace and defense company.