Lockheed Martin to acquire Unitech

Thanks to the Orlando Business Journal for this news:

Lockheed Martin Corp. announced it has entered an agreement to acquire Universal Systems & Technology Inc., also known as Unitech.

Terms of the deal were not disclosed, but Lockheed Martin’s simulation, training and support division in Orlando will manage Unitech’s 400 employees.

Unitech is a Centreville, Va.-based training and simulations, homeland security and technical solutions provider to the U.S. Army, Navy, Air Force, Marine Corps and Coast Guard, Department of Homeland Security and other U.S. agencies, according to a release,

“The acquisition of Unitech positions Lockheed Martin to benefit from increasing demand for operational readiness, training and support, and extends our capabilities and relationships with several key customers,” said Bob Stevens, president, CEO and chairman for Lockheed Martin, in a release.

Lockheed Martin Corp. (NYSE: LMT) is a Bethesda, Md.-based global security company employing more than 5,000 people in Central Florida and reported sales of $41.9 billion in 2007.

Link to the article