Lockheed Martin [LMT] yesterday said that it has completed its acquisition of Tenix Group’s interest in RLM Holdings Pty Ltd, which had been a joint venture between Lockheed Martin and Australia’s Tenix.
RLM is a radar, systems engineering and logistics management company based in Australia and has about 250 employees. Lockheed Martin Australia Pty Ltd., which now has over 370 employees, will manage RLM.
RLM’s primary focus is the ongoing maintenance, support and enhancement of the Jindalee Operational Radar Network, a wide-area surveillance over-the-horizon radar network which provides the means to detect ships and aircraft up to 3,000 kilometers from the Australian coast. The venture also supports the Australian Defence Force’s Tactical Air Defence Radar System.
Terms of the deal were not disclosed.
Britain’s BAE Systems, which acquired Tenix in June, had hoped to include the RLM joint venture as part of the deal but existing pre-emption rights with Tenix’ partners allowed them to pursue an alternative deal for RLM.