en.Wedoany.com Reported - Lockheed Martin has announced the acquisition of global defense company Ultra Maritime for $3.45 billion. The company specializes in providing advanced underwater warfare and anti-submarine warfare (ASW) capabilities to allied navies, with products including sonar technology, sonobuoys, torpedo defense systems, radar solutions, and autonomous maritime sensing platforms.

"Underwater dominance belongs to those who act fastest and collaborate best," said Stephanie C. Hill, President of Lockheed Martin Rotary and Mission Systems. "By joining forces with Ultra Maritime, we accelerate our commitment to delivering the most advanced underwater and anti-submarine warfare capabilities to the United States and global allied partners."

Shonnel Malani, Managing Partner at Advent International and Chairman of the Board of Ultra Electronics, stated that when investing in Ultra Maritime in 2022, they saw a company with mission-critical technology playing a vital role in protecting allies from underwater threats, but one that was underinvested and not fully delivering value to its customers. Over the past four years, the company has transformed this situation, and Ultra Maritime has now become a stronger and more innovative partner for allied navies, with enhanced execution capabilities, greater industrial capacity, and a new generation of autonomous solutions for future warfare.

Ultra Maritime's international business footprint and its exportable ASW product portfolio, including sonobuoys, towed sonar arrays, and hull-mounted sonar product lines, will complement and expand Lockheed Martin's ability to deliver sonar solutions on next-generation maritime platforms. Upon completion of the transaction, the team will become part of Lockheed Martin's Rotary and Mission Systems business area.

In terms of advisory, Citi served as financial advisor to Lockheed Martin, Hogan Lovells and Cadwalader served as legal advisors, and Fried Frank served as tax advisor.