Lockheed closes Stasys deal
- By Roseanne Gerin
- Mar 01, 2005
Lockheed Martin Corp. has completed its acquisition of Stasys Ltd., a U.K. technology and consulting firm that specializes in network communications and defense interoperability, the company said today.
The terms of the deal were undisclosed. Lockheed Martin announced
the acquisition in December.
Stasys of Farnham, England, specializes in tactical data-link integration, requirements management, modeling and simulation, and air traffic management consulting for defense and civilian customers. The company's capabilities in communications compliment Lockheed Martin's portfolio of network-centric technologies in the United States and abroad, Lockheed Martin said in a statement.
"Completing this acquisition marks another step forward in our long-term strategy of strengthening our core competencies through disciplined investment," said Bob Stevens, Lockheed Martin's president and chief executive officer. "It also enhances our presence in the United Kingdom, and reiterates our commitment to our international customers. Stasys expands our ability to deliver sophisticated network-enabled solutions in the international arena."
In February, Lockheed Martin said it would buy the Sytex Group Inc. of Doylestown, Pa., for $462 million as part of its growth strategy. Sytex offers IT solutions and technical support services to the Defense Department and other federal agencies.
Founded in 1987, Stasys has 200 employees. As of February 2004, it had annual revenue of more than $32.6 million, according to the company. About 60 percent of its business is within the defense sector. Its sister company, Stasys Consulting Inc., is in Reston, Va. Stasys has other offices in England, Australia, Germany and Malaysia.
Besides the U.K.'s Defense Ministry, Stasys supports the U.S. Defense Department and the military service branches as well as defense ministries of Australia, Italy, Germany, Norway, Switzerland, Spain, Oman and the Netherlands and various organizations within NATO. Its non-military U.K. clients include air traffic management agencies, national emergency services, fire and rescue services, police forces and the National Health Service.
The new organization will be called Lockheed Martin Stasys Ltd. and will be a wholly owned subsidiary of Lockheed Martin UK Holdings Ltd. Lockheed Martin's integrated systems and solutions division of Gaithersburg, Md., will manage its operations.
Bethesda, Md.-based Lockheed Martin employs approximately 130,000 people worldwide and had 2003 revenue of $31.8 billion. It is No. 1 on Washington Technology's 2004 Top 100 list of prime federal contractors.