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Wednesday, June 18, 2014

Lockheed buys California firm that makes thin film coatings, (NYSE: LMT)

Lockheed Martin Corp on Wednesday said it is acquiring Deposition Sciences Inc, a California-based company that provides thin film coatings, for an undisclosed amount from its parent company, Advanced Lighting Technologies Inc. Lockheed, the Pentagon's largest supplier, said the company would be integrated into its aeronautics division and it expects to close the deal within 30 days.Lockheed spokesman Gordon Johndroe declined to give details about the terms of the transaction, but said the deal was not material to the company's financial results.On its website, Deposition Sciences says it produces the most durable, heat resistant and reliable optical thin film coatings available, spanning the range from the ultraviolet wavelength through to far infrared (FIR), or the long-wave infrared (LWIR) spectral wavelengths.Lockheed said Deposition Sciences has about 85 employees.

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 fell by 0.18% or $-0.3/share to $163.94. In the past year, the shares have traded as low as $103.51 and as high as $168.87. On average, 1417470 shares of LMT exchange hands on a given day and today's volume is recorded at 880021.