Lockheed finishes Orincon deal
Lockheed Martin Corp. completed its acquisition of Orincon Corp., a San Diego-based systems integrator. Terms of the deal were not released.
Orincon specializes in knowledge management, information assurance, signal and image processing and data fusion. The acquisition will strengthen Lockheed Martin's position in the intelligence, surveillance and reconnaissance areas.
Orincon has about 250 employees, who will now come under Lockheed Martin's Management & Data Systems unit, based in King of Prussia, Pa. Lockheed Martin, based in Bethesda, Md., has 125,000 employees and reported revenue of $26.6 billion in 2002.