Lockheed Martin leads $3.5 billion race to buy naval firm Ultra Maritime
Lockheed Martin is reported to be leading the race to acquire naval defense firm Ultra Maritime for about $3.5 billion. The deal would fold Ultra, a maker of anti-submarine sonar and sensors, into the largest US defense contractor. People familiar with the talks said an agreement could come this summer.
Lockheed Martin has emerged as the frontrunner in the sale process for Ultra Maritime, a maker of naval defense technology, according to reports. The deal is said to value the business at roughly $3.5 billion, with talks described as advanced.
Ultra Maritime specializes in sonar systems and sensor technology used for anti-submarine warfare. Analysts say such capabilities carry strategic value for large defense contractors at a time when naval power is regaining prominence in military planning.
People familiar with the process said the parties could reach an agreement this summer, while cautioning that talks are not final and terms may change. Lockheed Martin and Ultra Maritime have not commented publicly on the reported negotiations.
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