Our Core Satellite & Space index was up +9% in July, outperforming the S&P 500 which saw a gain of +1% and the MSCI Global (ex.-U.S.) index which saw a gain of +2%.​
We saw a decrease in venture financing activity in the month with eight venture financings, while M&A activity remained steady with four transactions.  ​
The largest M&A transaction in July was KBR’s announcement of its intent to acquire LinQuest Corp. at an enterprise value of $737M, representing an EV/2025 EBITDA multiple of ~11x. LinQuest provides engineering, data analytics, and digital integration services, with significant presence in the national security space.