Lockheed Martin To Acquire Zeta Associates
- Acquisition Will Enhance Space and Intelligence, Surveillance and Reconnaissance Portfolio
Lockheed Martin [NYSE: LMT] has entered into a definitive agreement to acquire Zeta Associates, Inc., a leader in the systems that enable efficient collection, processing, safeguarding and dissemination of critical information for intelligence and defense communities. The terms of the agreement were not disclosed and are not material to Lockheed Martin.
Subject to the satisfaction of customary closing conditions, the transaction is expected to close in the third quarter of 2014. Upon closing, Zeta Associates will be a wholly-owned subsidiary of Lockheed Martin reporting through the corporation’s Space Systems business area.
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“Zeta Associates’ expertise in cross-platform information collection, analysis and dissemination is an ideal complement to our national security capabilities,” said Marillyn Hewson, Lockheed Martin Chairman, President and CEO. “Adding Zeta to our diverse portfolio strengthens our ability to deliver vital ground, air and space-based intelligence in support of our customers’ most essential missions.”
Founded in 1984, Zeta Associates specializes in technology that powers critical national security missions. Their highly-skilled workforce focuses on leading-edge software, communications and ground systems innovation to solve complex mission challenges.
“Zeta Associates has built its success on innovation and customer focus, and we’re pleased to be joining a company that shares those same priorities,” said John Nelson, President and CEO of Zeta Associates. “By joining Lockheed Martin we’ll gain access to an unmatched portfolio of technology and expertise that will help us better address a broader array of our customers’ critical missions.”
Zeta Associates has about 350 employees, which are based in their Fairfax, Virginia, headquarters, as well as Denver, Colorado, and at customer locations.
Source : Lockheed Martin Corporation (NYSE: LMT)