The Boeing Company acquired Hughes space and communications businesses (renamed Boeing Satellite Systems) for $3,849 million in cash, a transaction completed in October 2000, structured as Cash; accounted for as a purchase.
Hughes space and communications businesses (renamed Boeing Satellite Systems) operates in Space & Communications, is based in El Segundo, California (Hughes Space & Communications). Boeing acquired the space and communications businesses and related operations of Hughes Electronics for $3,849 million in cash, renaming them Boeing Satellite Systems (BSS). BSS designs and builds space-based communications, reconnaissance, surveillance and imaging systems, and the deal made Boeing the world's largest manufacturer of commercial and military satellites. Related operations acquired alongside it included Spectrolab, a maker of solar cells and panels for satellites, and a stake in the HRL Laboratories research center.
The purchase extended Boeing's Space and Communications segment into satellite manufacturing at scale.
A world-leading satellite manufacturer plus solar-cell and research assets that anchored Boeing's space and communications business. Renamed Boeing Satellite Systems (BSS) within the Space and Communications segment.
On October 6, 2000, the Company acquired Hughes space and communications businesses and related operations... The acquired businesses will be operated under the name of Boeing Satellite Systems (BSS). BSS provides space-based communications, reconnaissance, surveillance and imaging systems.The Boeing Company, Form 10-K for fiscal year 2000
Advisory firms were not disclosed for this transaction.