Lockheed Martin, ACS close deal

Lockheed Martin Corp. and Affiliated Computer Services Inc. finished their asset swap, with Lockheed Martin picking up most of ACS' federal business, and ACS acquiring Lockheed Martin's commercial IT units.

Bethesda, Md.-based Lockheed Martin will pay about $658 million for most of ACS' federal business, including $70 million pursuant to a five-year, noncompete agreement.

Dallas-based ACS will pay about $107 million for Lockheed Martin's commercial information technology business. The net value of the deal is $551 million to ACS.

Lockheed Martin is picking up about $700 million in revenue. ACS will gain about $300 million. With the acquisition, Lockheed Martin is changing the name of its Technology Services sector to Information and Technology Services.

ACS' state and local government business is not included in the sale. ACS will also keep its contract with the Department of Education to provide student loan processing services. Last week, the company won a five-year, $1 billion re-

compete of that work.

Lockheed Martin is ranked No. 1 on Washington Technology's 2003 Top 100 list. ACS is ranked No. 16. *

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here


  • VIDEO: Explore the 2019 M&A Trends

    Editor Nick Wakeman interviews Kevin DeSanto of the investment bank KippsDeSanto about the highlights of their annual M&A survey and trends driving acquisitions in the federal space. Read More


    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.