Northrup Grumman has agreed to increase their stake in Scaled Composites from 40% to 100%. Effectively buying out Scaled Composites. Scaled Composites is the aerospace company run by Burt Rutan, the engineer who helped develop SpaceShipOne -- the winner of Ansari X-prize to build the first private craft to travel into space. SpaceShipOne became the for Virgin Galactic's space ship design. In fact, Scaled Composites has the contract to deliver Virgin Galactic's space tourism craft and launch vehicle. There is no word on if the buyout will effect this contract.

Bookmark/Search this post with:

delicious | digg | reddit | furl | technorati