Northrop Grumman buys Scaled Composites

[nuaetius]

http://www.space.com/news/070720_scaled_bought.html<br /><br />WASHINGTON - Northrop Grumman Corp. agreed July 5 to increase its stake in Scaled Composites - the builder of the Ansari X-Prize Cup-winning SpaceShipOne and a host of record-breaking aircraft - from 40 percent to 100 percent, Northrop Grumman spokesman Dan McClain confirmed July 20.<br /><br /><br />McClain, who declined to disclose the value of the deal, said the company expects it to close in August pending regulatory approval by the U.S. Department of Justice.<br /><br /><br />Scaled Composites currently is working with Sir Richard Branson's Virgin Galactic venture on a vehicle designated for now as SpaceShipTwo, which would carry two pilots and six paying passengers into suborbital space for a few minutes of weightlessness. The company also is building a new carrier aircraft, dubbed WhiteKnight2, that will carry SpaceShipTwo to an altitude of 15 kilometers before releasing it to soar to suborbital space.<br /><br /><br />The two companies last year formed a joint venture called the Spaceship Company to build the new vehicles.<br /><br /><br />Alex Tai, chief operating officer of Virgin Galactic, declined to comment when asked July 20 how the acquisition would affect his company's dealings with Scaled Composites. "I'm afraid I can't provide you with any comment at this stage and I don't think [Scaled Composites] can either," Tai said.<br /><br /><br />Scaled Composites, with the backing of Microsoft cofounder Paul Allen, won the $10 million Ansari X Prize in 2004 when SpaceShipOne was piloted to an altitude just above the internationally recognized border of space twice in a two-week period.<br /><br /><br />I didn't know Northrop Grumman had such a huge stake in Scaled to begin with. I guess that means that Rutan now works for NG.. who would have thought that.

 

[thereiwas]

Rutan thought highly of the Apollo lunar lander, which Grumman built.

 

[mthomas]

Good News for Scaled tek.<br /><br />NGC will take it further then they could ever hope for.<br /><br />

 

[spacefire]

or every project gets canned due to budget overruns. <div class="Discussion_UserSignature"> <p>http://asteroid-invasion.blogspot.com</p><p>http://www.solvengineer.com/asteroid-invasion.html </p><p> </p> </div>

 

[nyarlathotep]

Burt Rutan works for Burt Rutan. If the NG deal doesn't work out he will simply take the tens of millions he was paid for his equity stake and start another business. Considering how loyal his staff are I doubt he'll have trouble recruiting <img src="/images/icons/wink.gif" />

 

[quantump7]

http://money.cnn.com/news/newsfeeds/articles/prnewswire/LAF05124082007-1.htm<br /><br />Northrop Grumman Completes Acquisition of Scaled Composites, LLC<br /><br />August 24, 2007: 05:00 PM EST<br /><br /> LOS ANGELES, Aug. 24 /PRNewswire-FirstCall/ -- Northrop Grumman Corporation announced today that it has completed a transaction that increases its ownership in Scaled Composites, LLC from approximately 40 percent to 100 percent.<br /><br />Scaled Composites is an aerospace and specialty composites development company located in Mojave, Calif., with broad experience in vehicle design, tooling, and manufacturing; specialty composite structure design, analysis and fabrication; and developmental flight test.<br /><br />Northrop Grumman Corporation is a $30 billion global defense and technology company whose 120,000 employees provide innovative systems, products, and solutions in information and services, electronics, aerospace and shipbuilding to government and commercial customers worldwide.