Bethesda-based defense and technology firm Lockheed Martin on Wednesday said it agreed to acquire Universal Systems & Technology, a firm that provides interactive training to the U.S. Army, Navy, Air Force, Marine Corps, Coast Guard and Department of Homeland Security.
Terms of the transaction were not disclosed.
“This transaction is another step forward in our long-term strategy of building shareholder value by using disciplined cash deployment to make acquisitions that strengthen our core competencies,” Bob Stevens, Lockheed’s chairman, president and CEO, said in a statement.
The transaction is subject to government approvals, including a review under the Hart-Scott-Rodino Antitrust Improvements Act and satisfaction of other closing conditions. The transaction is expected to close by early 2009. – Andrew Cannarsa
