Lockheed Martin buys Aspen Systems
- By Roseanne Gerin
- Dec 19, 2005
Lockheed Martin Corp. has acquired information management company Aspen Systems Corp. Terms of the deal were not disclosed.
The acquisition will strengthen Lockheed Martin's IT and technical services capabilities as well as expand its range of federal IT customers. The deal is expected to close by the first quarter of 2006.
Rockville, Md.-based Aspen Systems is an employee-owned offering a range of business process and technology solutions, primarily to the federal government's civil agencies. It specializes in program management, constituent relationship management, records management and IT support.
The company employs more than 1,700 people and had 2004 revenue of about $165 million. Lockheed Martin Information Technology of Seabrook, Md., will manage the Aspen Systems business.
The deal caps off a year during which Lockheed Martin made several other strategic acquisitions of small and midsized firms to strengthen its core competencies.
In October, Lockheed Martin completed its acquisition of remote sensing systems maker Coherent Technologies Inc. of Louisville, Colo. Earlier this year, the defense giant acquired Stasys Ltd., a U.K. technology and consulting firm specializing in network communications and defense interoperability, and Sytex Group Inc. of Doylestown, Pa., a provider of IT solutions and technical support services to the Defense Department and other federal agencies.
Lockheed Martin of Bethesda, Md., has about 135,000 employees and has annual revenue of $35.5 billion. It ranks No. 1
on Washington Technology's 2005 Top 100
list of federal prime contractors.