Lockheed Martin announced that it has signed a definitive agreement to acquire Ultra Maritime for $3.45 billion. Ultra Maritime is a global defense company specializing in advanced undersea warfare and anti-submarine warfare capabilities for allied naval forces.
Ultra Maritime develops and delivers mission-critical systems including sonar technologies, sonobuoys, torpedo defense systems, radar solutions, and autonomous maritime sensing platforms. The acquisition reinforces Lockheed Martin’s commitment to undersea warfare and anti-submarine warfare domain expertise.
Lockheed Martin said Ultra Maritime’s international footprint and portfolio of exportable anti-submarine warfare products will complement its existing maritime capabilities. These products include sonobuoys, towed sonar arrays, and hull-mounted sonar product lines.
The deal is expected to expand Lockheed Martin’s ability to offer sonar solutions across next-generation maritime platforms. The combination is also intended to support U.S. and allied naval forces as undersea threats become increasingly complex.
Upon closing, Ultra Maritime will become part of Lockheed Martin’s Rotary and Mission Systems business area. This business includes capabilities across mission systems, sensors, command and control, cyber, training, and integrated defense technologies.
Advent invested in Ultra Maritime in 2022 as part of its investment in Ultra Electronics. Advent said Ultra Maritime has since improved execution, expanded industrial capacity, and advanced next-generation autonomous solutions.
Citi is serving as financial advisor to Lockheed Martin. Hogan Lovells and Cadwalader are serving as legal counsel, and Fried Frank is serving as tax counsel to Lockheed Martin.
Lockheed Martin is a global defense technology company focused on all-domain mission solutions. The company said the acquisition supports its 21st Century Security vision and its efforts to deliver advanced technologies for customers and allied partners.
KEY QUOTES:
“Undersea superiority belongs to those who move fastest and work together best. By joining forces with Ultra Maritime, we’re accelerating our commitment to deliver the most advanced undersea and anti-submarine warfare capabilities to our U.S. and allied partners across the globe.”
Stephanie C. Hill, President of Lockheed Martin Rotary and Mission Systems
“When we invested in Ultra Maritime in 2022, we saw a business with mission-critical technology and a vital role in protecting allied nations from undersea threats, but one that had been underinvested and was not yet fully delivering for its customers. Over the past four years, we have changed that. Ultra Maritime is now a stronger, more innovative partner to allied navies, with improved execution, greater industrial capacity and next-generation autonomous solutions that position it well for future warfare.”
Shonnel Malani, Managing Partner at Advent and Chair of the Board at Ultra Electronics
