Lockheed swoops down on Eagle Group

Lockheed Martin Corp. is acquiring Eagle Group International LLC, a provider of logistics, information technology, training and health care services to the Defense Department. Financial terms were not disclosed.

The company's revenue comes mainly from its work for the Army, Lockheed Martin said. The company had $141.5 million in revenue in 2007, according to Hoover's Online.

The acquisition will increase Lockheed Martin's logistics and business process outsourcing capabilities, said Bob Stevens, Lockheed Martin's chairman, president and chief executive officer. It also will strengthen the company's relationships with several key Army customers and enhance support for military force modernization efforts, he added.

As part of the agreement, Lockheed Martin will not assume any of the Atlanta company's obligations under its Potomac Job Corps contract with the Labor Department.

Founded in 1995, Eagle Group has more than 1,350 employees.

The transaction is subject to government approval and is expected to close in the second quarter of 2008.

Lockheed Martin, of Bethesda, Md., ranks ranks No. 1 on Washington Technology's 2007 Top 100 list of the largest federal government prime contractors.