SSL, Private Equity Firm Launching Satellite Servicing Business

Private equity firm Finance Technology Leverage (FTL) and Space Systems Loral are partnering to create Space Infrastructure Services (SIS), an on-orbit satellite servicing company, SSL said in a news release Wednesday. It said SIS would be majority owned by FTL, with SSL having a minority stake. SSL also will design and build the satellite servicing vehicle under a $228 million SIS contract, it said. SES signed up to be SIS' first commercial customer for satellite refueling services, it said. SSL's Defense Advanced Research Projects Agency contract to develop in-orbit satellite servicing technology was challenged in court by Orbital ATK, which also has a satellite servicing commercial operation (see 1702090045).