Lockheed Martin leads race to buy Ultra Maritime in $3.5bn deal, FT reports
Lockheed Martin is the frontrunner to acquire Ultra Maritime, a naval-systems maker owned by private-equity firm Advent, in a deal valued at about $3.5 billion, the Financial Times reported. The purchase would expand Lockheed's undersea and maritime business.
Defense giant Lockheed Martin is leading talks to acquire Ultra Maritime, a naval-systems company, the Financial Times reported. The deal, valued at roughly $3.5 billion, would see Lockheed buy the business from private-equity firm Advent.
Ultra Maritime specializes in anti-submarine warfare and sonar systems. The Financial Times said the process is not yet finalized and that rival bids could still emerge. The parties involved have not commented publicly on the report.
Analysts said that, if completed, the acquisition would strengthen Lockheed's undersea and maritime technology portfolio. Rising order volumes across the defense sector are pushing large contractors to buy firms with niche capabilities. The transaction would be expected to require regulatory approvals before closing.
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