Orbital Sciences Corporation and Alliant Techsystems are merging their aerospace and defense business forming Orbital ATK in a $5 billion merger deal, the companies announced. “The proposed merger will generate cost and revenue synergies and create a more streamlined and competitive operator,” said ATK Chief Executive Officer Mark DeYoung, in Orbital’s April 29 release. The combined firm’s holdings will span the two companies’ entire current satellite, space launch, missile, weapons, military electronics, and aircraft systems lines, according to the release. Orbital ATK will employ a 13,000-strong workforce of engineers and technicians across 17 states. “This merger-of-equals … brings together two of the space and defense industry’s most innovative developers and cost-efficient manufacturers who have worked closely together for over 25 years,” said Orbital Chief Executive Officer David Thompson, who also will serve as president and CEO of the new company. “Orbital ATK will deliver even more affordable space, defense and aviation systems to our existing customers and be strongly positioned to expand into adjacent areas,” he added. Former Air Force Chief of Staff retired Gen. Ronald Fogleman will lead the combined firm’s board of directors, the companies stated.
PHOTOS: 12 B-2s Conduct Massive Fly-Off, Elephant Walk
April 19, 2024
The Air Force carried out the largest B-2 Spirit fly-offs in recent history, when 12 aircraft—the majority of the nation's stealth bombers—took off one by one on April 15 from Whiteman Air Force Base, Mo. The event also created a massive elephant walk as the aircraft taxied to and took…