Maryland-based Lockheed Martin, a defense technology company, recently announced it has signed a definitive agreement to purchase Massachusetts-based Ultra Maritime, a global defense company, for $3.45 billion.
Ultra Maritime specializes in advanced undersea warfare and anti-submarine warfare capabilities for allied naval forces and develops sonar technologies, sonobuoys, torpedo defense systems, radar solutions, and autonomous maritime sensing platforms. Its product portfolio will complement and expand Lockheed Martin’s ability to offer sonar solutions across next-gen maritime platforms.
“Undersea superiority belongs to those who move fastest and work together best,” Stephanie C. Hill, Lockheed Martin Rotary and Mission Systems president, said. “By joining forces with Ultra Maritime, we’re accelerating our commitment to deliver the most advanced undersea and anti-submarine warfare capabilities to our U.S. and allied partners across the globe.”
Ultra Maritime’s employees will become part of Lockheed Martin’s Rotary and Mission Systems business after closing.
“Ultra Maritime is now a stronger, more innovative partner to allied navies, with improved execution, greater industrial capacity and next-generation autonomous solutions that position it well for future warfare,” Shonnel Malani, Ultra Electronics chairman and managing partner of Advent, a global private equity investor that invested in Ultra Maritime in 2022.
Ultra Electronics Holdings is a British defense and security company.