Lockheed Martin Completes $3.45 Billion Acquisition of Ultra Maritime
Lockheed Martin (LMT) has officially closed its acquisition of undersea and antisubmarine warfare specialist Ultra Maritime for $3.45 billion. The deal, which was initially announced in July, integrates Ultra Maritime into Lockheed's 'Rotary and Mission Systems' (RMS) division. This move marks a strategic expansion into the undersea warfare sector, complementing Lockheed's existing dominance in aerospace, space, and missile systems. The acquisition is expected to bolster the RMS division, which currently accounts for approximately 26% of Lockheed's total revenue but operates at lower margins than the company average. While precise financials were not disclosed, estimates suggest Ultra Maritime could contribute up to $1 billion in annual revenue with strong historical growth rates. If these projections hold, the acquisition could significantly improve both the revenue scale and profit margins of the RMS business unit.
Tickers: $LMT
Topics: acquisition aerospace and defense defense industry undersea warfare