Lockheed Martin Completes Divestiture Of IMS Business
BETHESDA, MD, 24-AUG-01 -- Lockheed Martin Corporation (NYSE:LMT) has completed the sale of the IMS Corporation to Affiliated Computer Services Inc. (NYSE: ACS) for $825 million in cash. This transaction completes the divestiture of those business units identified by Lockheed Martin as candidates for potential divestiture following a comprehensive strategic review announced in September 1999.
The IMS lines of business include Transportation Systems and Services (including Photo and Radar Traffic Enforcement), Children and Family Services, Information Resources Management, Municipal Services, and Welfare and Workforce Services. The businesses are located in 44 states and 250 offices throughout the U.S. and Canada.
LOCKHEED MARTIN SAFE HARBOR STATEMENT: Statements in this press release are considered forward-looking statements under the federal securities laws, including the Private Securities Litigation Reform Act of 1995, including the statements relating to projected future financial performance. Sometimes these statements will contain words such as believes, expects, intends, plans and other similar words. These statements are not guarantees of our future performance and are subject to risks, uncertainties and other important factors that could cause our actual performance or achievements to be materially different from those we may project.
In addition to the factors set forth in our filings with the Securities and Exchange Commission (www.sec.gov), the following factors could affect the forward-looking statements contained in this press release: timing of regulatory process, conditions imposed by regulatory agencies, uncertainties involved in foreign ownership of companies involved in defense contracting, the political and economic climate domestically and internationally, the ability to obtain or the timing of obtaining future government awards and approvals, competitive environment, timing of awards and contracts. These are only some of the numerous factors that may affect the forward-looking statements in this press release.