Lockheed Martin Completes Acquisition Of Universal Systems & Technology, Inc. (UNITECH)
Bethesda, MD, 01/09/2009 -- Lockheed Martin Corporation [NYSE: LMT] has completed its acquisition of Universal Systems & Technology, Inc. (UNITECH). UNITECH provides interactive training and simulation, homeland security, and technical solutions to the United States Army, Navy, Air Force, Marine Corps, Coast Guard, Department of Homeland Security, and other U.S. and international government agencies. The business will be managed by Lockheed Martin's Simulation, Training and Support division based in Orlando, Fl.
Founded in 1988, UNITECH employs more than 400 people. Its core service offerings include multimedia training and performance support systems, three-dimensional weapons simulations, security strategies and information technology services.
The acquisition was originally announced on December 24, 2008. Terms of the transaction are not being disclosed.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2007 sales of $41.9 billion.