Lockheed Martin Agrees To Acquire STASYS Limited
Bethesda, MD, 13-DEC-04 -- Lockheed Martin Corporation [NYSE: LMT] has entered into a definitive agreement to purchase STASYS Limited, a U.K.-based technology and consulting firm specializing in network communications and defense interoperability. This move will strengthen Lockheed Martin’s international leadership in net-centric technologies. Terms of the transaction were not disclosed.
Serving a diverse range of international defense and civil government customers, STASYS provides highly specialized expertise in tactical data link integration, requirements management, modeling and simulation, and air traffic management consulting. The company’s capabilities in the communications arena complement Lockheed Martin’s broad portfolio of net-centric technologies in the U.S. and abroad.
“The acquisition of STASYS is another step forward in our ongoing strategy of disciplined growth and strategic cash deployment,” said Bob Stevens, Lockheed Martin’s President and Chief Executive Officer. “Government communications are a critical element of net-centric operations, and STASYS is a good fit for our long-term strategy in defense and government information technology. They are an outstanding addition to the Lockheed Martin team that will bolster our core competencies in net-centric operations and systems engineering.”
“STASYS has built its success on world-class analysis processes and tools that help our customers integrate existing data networks and define strategic road maps to ensure future interoperability. Lockheed Martin’s extensive domain expertise is an ideal complement to our consulting and analysis capabilities,” said Julian Ranger, STASYS Managing Director/ CEO. “Joining the Lockheed Martin team will yield significant benefits for our customers and provide new opportunities for our employees.”
Closing is expected in early 2005, following satisfaction of certain conditions.
Founded in 1987, STASYS Limited is headquartered in Farnham, Surrey, U.K. and employs over 200 people in Europe and the U.S. Lockheed Martin Integrated Systems & Solutions, based in Gaithersburg, Md., will manage the STASYS business, and STASYS employees will report to the Lockheed Martin U.K. wholly-owned subsidiary.