Lockheed Martin has agreed to acquire Universal Systems & Technology (Unitech), a provider of security-related technology and simulation services to the US Army and other international government agencies. Terms of the transaction have not been disclosed.
The transaction is expected to close by early 2009, subject to government approvals, including a review under the Hart-Scott-Rodino Antitrust Improvements Act and satisfaction of other closing conditions.
Unitech’s core service offerings include multimedia training and performance support systems, three-dimensional weapons simulations, security strategies, and IT services. It has provided preventive maintenance checks and service, and portable equipment precision lightweight GPS receiver for the US Army; basic engineering common core course to the US Navy; universal controller to the US Air Force; eLearning support services to the US Coast Guard; and more.
Bob Stevens, chairman, president and CEO of Lockheed Martin, said: The acquisition of Unitech positions Lockheed Martin to benefit from increasing demand for operational readiness, training and support, and extends our capabilities and relationships with several key customers. This transaction is another step forward in our long-term strategy of building shareholder value by using disciplined cash deployment to make acquisitions that strengthen our core competencies.