Lockheed Buying OAO

Lockheed Martin Corp.'s planned purchase of OAO Corp. will bring Lockheed Martin additional intelligence and NASA business, and bolster its already formidable place in the government information technology market.

Terms of the deal, announced Oct. 26, were undisclosed. It is the first IT-related acquisition by systems integrator Lockheed Martin in several years.

Lockheed Martin of Bethesda, Md., will combine its Information Support Services division with OAO of Greenbelt, Md., to create a new organization. Linda Gooden, president of the ISS unit, will lead the new organization. The purchase is subject to government approval, including review under the antitrust acts. It is expected to close by the end of this year.