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BREAKING NEWS

Space firm founded by billionaire Paul Allen 'transitioned ownership'

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SEATTLE (Reuters) – Stratolaunch Systems Corp, the space company founded by late billionaire and Microsoft Corp <MSFT.O> co-founder Paul Allen, said on Friday it has “transitioned ownership and is continuing regular operations.”

The company, a unit of Allen’s privately-held investment vehicle Vulcan Inc, had been developing a fleet of launch vehicles, including the world’s largest airplane by wingspan, to send satellites and eventually humans into space.

Allen, who founded Seattle-based Stratolaunch in 2011, died at age 65 in October.

Reuters reported in May that the company was exploring the sale of its assets and intellectual property while in the process of closing operations. It had slashed headcount.

(Reporting by Eric M. Johnson in Seattle; Editing by Chris Reese and Bill Berkrot)

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