Lockheed Martin Announces Completion Of $815 Million EIG Divestiture
BETHESDA, Md., 11/23/2010 --
Lockheed Martin Corporation [NYSE: LMT] today announced that it has completed the divestiture of its Enterprise Integration Group (EIG) business to Veritas Capital for $815 million in cash.
As announced on June 2, the Corporation's plan to divest EIG was based on the U.S. Government's increased concerns about perceived organizational conflicts of interest. EIG provides system engineering services, architecture, and integration services and support to a broad range of government customers. Divesting the business is intended to eliminate that perception and benefit customers, shareholders and employees.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 133,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's 2009 sales from continuing operations were $44 billion.