Lockheed Martin Corp on Wednesday announced the acquisition of Scotland-based Amor Group, a privately held information technology company, saying the deal would aid its plans to expand internationally and into non-defense markets.Lockheed did not disclose the terms of the acquisition, but said it was not material to the company."The strategic acquisition of Amor Group is aligned with our strategy for Lockheed Martin International and expands our capabilities and expertise in international information technology, civil government services and the energy market," Lockheed Chief Executive Marillyn Hewson said in a statement.Lockheed said Amor Group, which has more than 500 employees across seven facilities in the U.K., would help it expand in key adjacent business areas such as energy, government health care and airport operations.
Lockheed Martin Corporation is a global security and aerospace company principally engaged in the research, design, development, manufacture, integration, and sustainment of technology systems and products. Shares of LMT traded higher by 1.2% or $1.5/share to $126.57. In the past year, the shares have traded as low as $85.88 and as high as $126.73. On average, 1623560 shares of LMT exchange hands on a given day and today's volume is recorded at 1143157.
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