Orbital Sciences (ORB) To Acquire General Dynamic’s Spacecraft Business (GD)

Orbital Sciences Corp. (NYSE: ORB) plans to acquire spacecraft development, and manufacturing business of General Dynamics Corp's (NYSE: GD) for $55 million, as the company looks to improve its foothold in satellite manufacturing business.

This acquisition should add $50 million in additional revenue in 2010; the acquisition should also help to achieve a marginal improvement in the bottom-line. The deal is expected to close in April 2010.

The acquisition will help Orbital Sciences to add medium-class low-Earth orbit satellites to its existing product line.