Lockheed Martin buys ISX

Lockheed Martin Corp. has acquired ISX Corp., a company that specializes in military decision systems and other IT solutions for government customers. Terms were not disclosed.

Robert Stevens, Lockheed Martin's chairman, president and CEO, in a statement announcing the acquisition, called ISX a leader in defense research and development, having won two consecutive awards as contractor of the year from the Defense Advanced Research and Projects Agency.

"This acquisition complements and accelerates our growth in decision systems, distributed collaborative military operations, autonomous systems and knowledge management." Stevens said in the statement.

About 90 percent of the privately owned Camarillo, Calif., company's business comes from the Defense Department. Lockheed Martin expects to close the transaction this month.

Lockheed Martin Advanced Technology Laboratories of Cherry Hill, N.J., will manage the ISX business.

Lockheed Martin of Bethesda, Md., has about 135,000 employees and reported 2005 revenue of $37.2 billion. The company ranks No. 1 on Washington Technology's 2006 Top 100 list of the largest federal IT contractors.