Navigate this market better. Subscribe for FREE stock alerts and information.

Thursday, October 30, 2014

Lockheed Martin to purchase health technology firm Systems Made Simple, (NYSE: LMT)

Defense contractor Lockheed Martin will purchase privately-held Systems Made Simple, a provider of health information technology solutions to the federal government, the company said on Thursday. Terms were not disclosed but were said to be not material to Lockheed Martin.Lockheed CEO Marillyn Hewson said Systems Made Simple was "a natural extension of our health IT portfolio, and will enable us to deliver a broader portfolio of capabilities to meet our healthcare customers' current and future needs."Among other things, Systems Made Simple, based in Syracuse, New York, works with the Department of Veterans Affairs in areas such as health data analytics, data center operation, health data management and health system interoperability.

Lockheed Martin Corporation is a global security and aerospace company engaged in the research, design, development, manufacture, integration, and sustainment of technology systems and products. Shares of LMT traded higher by 0.22% or $0.41/share to $186.84. In the past year, the shares have traded as low as $133.16 and as high as $186.78. On average, 1479710 shares of LMT exchange hands on a given day and today's volume is recorded at 269653.