Lockheed Martin (NYSE: LMT) has entered into a definitive agreement to acquire Industrial Defender, a leading provider of cyber security solutions for control systems in the oil and gas, utility and chemical industries.
Subject to the satisfaction of customary closing conditions, the acquisition is expected to close within 30 days. The terms of the agreement were not disclosed and are not material to Lockheed Martin operations.
"Industrial Defender's expertise in cyber security for critical infrastructure is a natural extension of our commercial cyber security business," said Marillyn Hewson, Lockheed Martin Chairman, President and CEO. "Their experience in addressing cyber threats to industrial control systems complements our information technology cyber security expertise and strengthens the value we deliver to our customers."
Industrial Defender is a privately held company headquartered in Foxborough, Mass., with more than 130 employees in three facilities. The company's solutions, including Industrial Defender Automation Systems Manager™, help protect and manage critical infrastructure by reducing cyber risks, easing regulatory compliance and enhancing the efficiency of customers' control environments.
"Lockheed Martin is a leader in cyber technology and IT security," said Industrial Defender CEO Brian M. Ahern. "We share a common perspective on the importance of protecting global critical infrastructure from an increasingly hostile threat landscape. The combined capabilities of Industrial Defender and Lockheed Martin will enable us to offer a comprehensive suite of technology and services designed to face modern day threats and business challenges to both enterprise information and operational technologies. Joining forces is a natural fit for Industrial Defender and our growth plans."
Industrial Defender's suite of integrated products and services is dedicated to assuring the availability, reliability and security of critical infrastructure, such as electric power grids, chemical facilities, and oil and gas pipelines. More than 400 companies in 25 countries rely on Industrial Defender's solutions to monitor, manage and protect their operations.
Source: Lockheed Martin Corporation (NYSE: LMT)
Date: Mar 12, 2014