Defence and aerospace giant Lockheed Martin has continued its bolt-on acquisition strategy with the purchase of Zeta Associates, a critical information collection and processing specialist.
The terms of the transaction, which is expected to close in the…
Defence and aerospace giant Lockheed Martin has continued its bolt-on acquisition strategy with the purchase of Zeta Associates, a critical information collection and processing specialist.
The terms of the transaction, which is expected to close in the third quarter of 2014, were not disclosed. Lockheed Martin stated that the consideration is not material.
Founded in 1984, Zeta is an employee-owned company that develops software, communications and ground systems that collects data from satellite, airborne, and terrestrial platforms and disseminates and processes it for the intelligence and defence communities.
Lockheed stated that the acquisition will enhance its space and intelligence, surveillance and reconnaissance portfolio. Upon closing, Zeta will be a wholly-owned subsidiary of Lockheed Martin’s Space Systems business.
Lockheed has made a series of bolt-on acquisitions recently in order to bolster its technological expertise. On 18 June, the company snapped up Deposition Sciences Inc, a provider of thin film coatings for various ndustrial applications including space and satellite apparatus.
At the end of May, Lockheed agreed to purchase the pre-launch satellite services unit of local space hardware developer Astrotech for US$61m. Founded in 1981, that company has so far helped to integrate more than 300 US and international rockets for their launch missions.