STASYS Limited
28�Feb�2005
Acquisition by Lockheed Martin Corporation
LOCKHEED MARTIN COMPLETES ACQUISITION OF STASYS LIMITED
BETHESDA, Md., Feb. 28, 2005 � Lockheed Martin Corporation [NYSE: LMT] has completed the acquisition of STASYS Limited, a U.K.-based technology and consulting firm specializing in network communications and defense interoperability. Terms of the transaction were not disclosed.
Serving a diverse range of international defense and civil government customers, STASYS provides highly specialized expertise in tactical data link integration, requirements management, modeling and simulation, and air traffic management consulting.� The company�s strong capabilities in the communications arena complement Lockheed Martin�s broad portfolio of net-centric technologies in the U.S. and abroad.
�We�re very pleased to welcome STASYS to the Lockheed Martin team,� said Bob Stevens, Lockheed Martin�s President and Chief Executive Officer. �Completing this acquisition marks another step forward in our long-term strategy of strengthening our core competencies through disciplined investment. It also enhances our presence in the U.K., and reiterates our commitment to our international customers. STASYS expands our ability to deliver sophisticated network-enabled solutions in the international arena.�
�This is an outstanding opportunity for our employees and our organization,� said Julian Ranger, STASYS Managing Director and CEO. �We�re excited about joining the Lockheed Martin team, and we�re confident this will be a win-win for our customers and our employees.�
The new organization will be known as Lockheed Martin STASYS Limited and will be a wholly-owned subsidiary of Lockheed Martin Holdings UK.� Lockheed Martin Integrated Systems & Solutions, based in Gaithersburg, Md., will manage all operational aspects of the business.
Headquartered in Bethesda, Md., Lockheed Martin employs about 130,000 people worldwide and is principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. The corporation reported 2004 sales of $35.5 billion.
Source: Lockheed Martin Corporation press release
Kerman & Co LLP, led by Michael Bennett, advised the shareholders of STASYS in the disposal of their shares to Lockheed Martin Corporation.
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