Lockheed Martin closes PAE buy

Lockheed Martin Corp. has completed its acquisition of Pacific Architects and Engineers Inc., a provider of services for the military, peacekeeping missions, nation-building activities, personnel recruitment and training and disaster relief efforts.

Pacific Architects and Engineers operates and maintains facilities and provides base operations support services for the Defense and State departments, the Defense Education Activity, Canada's National Defense Department and New Zealand's Defense Ministry.

The company also supplies logistics, airfield and air terminal management services for the Air Force, Navy and the United Nations.

Renamed PAE, the California company is now part of Lockheed Martin's information and technology services unit. Lockheed Martin announced the acquisition Aug. 17. Terms were not disclosed.

Lockheed Martin of Bethesda, Md., has about 135,000 employees and had annual revenue of $37.2 billion in fiscal 2005. The company ranks No. 1 on Washington Technology's 2006 Top 100 list of the largest federal IT contractors.

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