Monday, August 27, 2007

Northrop Grumman Acquires Scaled Composites

Los Angeles-based Northrop Grumman said today that it has completed its acquisition of Scaled Composites, LLC, a provider of aerospace and specialty composites development. Financial terms of the acquisition were not disclosed, however Northrop Grumman already owned 40 percent of Scaled Composites before the acquisition. Scaled Composites is based in Mojave, California and is known for its development of SpaceShipOne, the private, manned spacecraft which won the Ansari X Prize. Northrop had said in July that it would be acquiring the remainder of the firm. Scaled Composites is headed by Burt Rutan.

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