M&A

Latest Lockheed acquisition moves company further into energy market

Lockheed Martin’s acquisition of Industrial Defender shows once again that the company is serious about diving into the energy and other adjacent markets.

Foxborough, Mass.-based Industrial Defender will bring to Lockheed cybersecurity solutions for control systems in the oil and gas, utility and chemical industries, as well as 130 employees. Terms of the deal were not disclosed.

The deal was a good fit because the two companies complement each other well; “Their experience in addressing cyber threats to industrial control systems complements our information technology cyber security expertise and strengthens the value we deliver to our customers,” said Lockheed chairman, president and CEO Marillyn Hewson.

The deal was made just a month after Lockheed Martin began a new partnership with NASCAR, which turned out to be something more than just marketing; the partnership was a vehicle that Lockheed could use to promote renewable energy polices and businesses, as well as encourage young people to move into science and technology fields.

Energy is a growing area of interest for the company. Executives view it as a national security issue.

Lockheed is involved with energy management for facilities as well as the power grid. It’s also working on power generation and distribution, including wind, solar and biomass energy.

One of its highest profile projects is in China, where Lockheed is working with a developer of a new resort to build a power generation facility using thermal currents in the ocean.

 

 

About the Author

Mark Hoover is a senior staff writer with Washington Technology. You can contact him at mhoover@washingtontechnology.com, or connect with him on Twitter at @mhooverWT.

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