Lockheed Martin Places in Top 10 List of Largest IT Outsourcing Deal Winners
SEABROOK, MD, 05/07/2003 -- Industry analyst firm IDC has listed Lockheed Martin Corporation (NYSE:LMT) among the 10 information technology firms who won the largest outsourcing contracts, in both number and dollar value, for the period 1997 to 2001. In a March 2003 study, The Big Deals: Trends in Top 100 Outsourcing Contracts, 1997-2001, IDC researchers analyzed the top 100 biggest outsourcing deals over each of the five years by assessing their total contract value, length, winning vendor, geography, industry and client company size. Company and contract comparisons were summarized in an effort to give readers a clear understanding of trends in outsourcing activity over the five-year period.
Lockheed Martin won 10 of the 506 contracts listed in the study. The corporation's share totaled $1.431 billion. The research showed that the average length of the contracts was seven years, although the contracts usually span five or 10 years in duration. A full 37 percent of the outsourcing deals involved government and manufacturing entities, the most active sectors observed in the study.
Bob Lohfeld, president of Commercial Enterprise Solutions, a unit of Lockheed Martin Information Technology in Seabrook, Md., said, Many companies today are learning that outsourcing their IT to Lockheed Martin offers real advantages that help them stay competitive in this difficult economic climate and provide a path to leveraging technology. Lockheed Martin, a recognized leader in this field, continues to expand its role providing world-class IT outsourcing solutions for Fortune 1000 companies and government entities.
A division of IDG, Inc., IDC is dedicated to providing technology intelligence, industry analysis, market data, and strategic and tactical guidance to builders, providers, and users of information technology.
Headquartered in Bethesda, Maryland, Lockheed Martin is a global enterprise principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. Information Technology is a business unit of Lockheed Martin providing information technology business systems, managed services and infrastructure solutions to government agencies and commercial clients.