Lockheed Martin to acquire sensor maker

Lockheed Martin Corp. has entered into a definitive agreement to buy remote sensing systems maker Coherent Technologies Inc. for an undisclosed amount, the company has announced. The deal is expected to close later this year.

Based in Louisville, Colo., Coherent Technologies provides high-performance, laser-based sensor solutions and develops radar technology. The company performs research, product development and systems integration for products that maintain continuous operations in demanding environments. It also provides critical information about target identification and hazardous meteorological events.

Lockheed Martin's space systems division in Denver will manage Coherent Technologies' businesses.

The acquisition is Lockheed Martin's fourth transaction this year in its strategy to buy small and medium-sized businesses that fit with its core competencies and broaden its customer base. In August, the defense contractor completed its purchase of Insys Group Ltd., a U.K.-based information technology company. Earlier this year, the company bought Sytex Group Inc., an IT firm in Doylestown, Pa., and Stasys Ltd., a technology and consulting firm in the United Kingdom.

Headquartered in Bethesda, Md., Lockheed Martin employs about 130,000 people worldwide and had 2004 revenue of $35.5 billion. It is ranked No. 1 on Washington Technology's 2005 Top 100 list of prime federal contractors.

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