Lockheed Martin to buy network communications provider
- By William Welsh
- Dec 14, 2004
Lockheed Martin Corp. will acquire Stasys Ltd., a network communications and defense interoperability services provider, the company announced this week. Terms of the deal were not disclosed.
The acquisition of Stasys of Farnham, United Kingdom, will strengthen Bethesda, Md.-based Lockheed Martin's network-centric technology capabilities and systems engineering, the company said. The acquisition is expected to close early next year.
"The acquisition of Stasys is another step forward in our ongoing disciplined growth and strategic cash deployment," said Bob Stevens, Lockheed Martin's president and chief executive officer.
Noting that government communications are a critical element of net-centric operations, Stevens said the acquisition is a good fit with the company's long-term strategy in defense and government information technology.
Stasys has more than 200 employees and will be managed by Lockheed Martin Integrated Systems and Solutions of Gaithersburg, Md. The newly acquired company provides expertise in tactical data integration, requirements management, modeling and simulation, and air traffic management consulting services to international defense and civilian agency customers.
Lockheed Martin has more than 130,000 employees and annual sales of $31.8 billion. The company ranks No. 1 on Washington Technology's 2004 Top 100 list, which measures federal contracting revenue.
William Welsh is a freelance writer covering IT and defense technology.