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(Sharecast News) - US defence firm Lockheed Martin confirmed on Monday that it has agreed to buy Ultra Maritime from private equity firm Advent for $3.45bn.
Ultra Maritime specialises in advanced undersea warfare and anti-submarine warfare (ASW) capabilities for allied naval forces. The company develops and delivers mission-critical systems including sonar technologies, sonobuoys, torpedo defence systems, radar solutions, and autonomous maritime sensing platforms.
Lockheed said Ultra's international footprint and portfolio of exportable ASW products will complement and expand its ability to offer sonar solutions across next-gen maritime platforms.
Stephanie C. Hill, president of Lockheed Martin Rotary and Mission Systems, said: "Undersea superiority belongs to those who move fastest and work together best.
"By joining forces with Ultra Maritime, we're accelerating our commitment to deliver the most advanced undersea and anti-submarine warfare capabilities to our US and allied partners across the globe."
Shonnel Malani, managing partner at Advent and chair of the board at Ultra Electronics, said: "When we invested in Ultra Maritime in 2022, we saw a business with mission-critical technology and a vital role in protecting allied nations from undersea threats, but one that had been underinvested and was not yet fully delivering for its customers.
"Over the past four years, we have changed that. 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."
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