Lockheed Martin has entered into a definitive agreement to purchase a portion of integration Innovation Inc. (i3), a Huntsville, Alabama based software and systems engineering company, according to press release. The portfolio alignment to provide an opportunity to design and provide hypersonic-specific technology solutions for the warfighter.
- The transaction is expected to close in about 30 days upon which i3’s Hypersonics portfolio will be managed by the entity’s Space business area.
- Deal will synergize offerings and unlock value to both companies’ customers.
- Adding i3’s talent and expertise to the Lockheed Martin portfolio to expand capabilities across several mission areas and national security needs, and offer more integrated solutions.
Lockheed Martin stock falling on proposed acquisition of i3 portfolio. LMT: NYSE is down 0.17%,