Lockheed Martin Agrees to Acquire PercepTek, Inc.
BETHESDA, Md., 12/20/2007 -- Lockheed Martin Corporation [NYSE: LMT] has acquired PercepTek, Inc., a Colorado-based provider of advanced autonomous software technologies. Terms of the transaction, which will not have a material impact on the Corporation, were not disclosed.
PercepTek is a privately owned company that has developed software solutions for autonomous navigation for unmanned ground vehicles, autonomous collaboration operations for unmanned aerial vehicles and automated persistent surveillance for security applications, among other missions. The company's customers include the U.S. Army's Aviation Applied Technology Directorate and Tank-Automotive and Armaments Command, Defense Advanced Research Projects Agency and the U.S. Air Force.
Lockheed Martin Missiles and Fire Control, with major facilities in Dallas, TX and Orlando, FL, will manage the PercepTek business. Missiles and Fire Control is a leading supplier of air and missile defense, fire control, strike weapons, tactical missiles, and applied research solutions for customers including the U.S. Department of Defense, NASA and dozens of foreign nations. It is a unit of Lockheed Martin's Electronic Systems Business Area.
Lockheed Martin already is a leader in autonomous vehicles, with systems operating in the land, sea, air and space domains, said Christopher E. Kubasik, Executive Vice President, Electronic Systems Business Area. The acquisition of PercepTek will strengthen our capabilities in unmanned systems and surveillance, allowing us to provide a broader portfolio of solutions to our customers. This transaction represents a solid strategic fit and will enable us to support Lockheed Martin Corporation's long-term strategy of enhancing shareholder value.
We are very pleased to join Lockheed Martin and look forward to applying our technologies to a broader array of programs and customer requirements. The acquisition will provide exciting opportunities for our highly talented employees and enhanced capabilities for our customers, said James Lowrie, President of PercepTek.
Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.