Lockheed Martin [LMT] last Friday said it has agreed to acquire the hypersonics portfolio and related employees of Integration Innovation, Inc. (i3), a deal that the company said will strengthen its capabilities in hypersonic technologies to meet warfighter needs.
Terms of the deal, which is expected to close within a month, were not disclosed.
Hypersonic technologies and programs are one of the Defense Department’s top priority areas for investment.
“This business combination not only reinforces our commitment to [the customers’] missions, but also expands our portfolio in a strategic way,” Eric Scherff, vice president of Hypersonic Strike Programs at Lockheed Martin, said in a statement. “Combining i3’s talent and domain expertise with our shared vision for hypersonic strike will expand how we think about and deliver this critical capability to the warfighter across domains.”
I3, which is based in Huntsville, Ala., has expertise in thermal protection system design, development and manufacturing for several hypersonic programs, including the Common Hypersonic Glide Body for Conventional Strike Prompt, and Long-Range Hypersonic Weapon (LRHW), a spokeswoman for Lockheed Martin told Defense Daily on Tuesday.
“The synergy between the complementary capabilities of i3 and Lockheed Martin brings streamlined, system-centric, full life-cycle solutions to our shared customer set,” she said.
I3 also has expertise in propulsion technology, seeker windows and domes, ground test and evaluation, ground test facility development and integration, flight test demonstration, weather encounter, and modeling and simulation and software development related to hypersonics.
The Army’s Rapid Capabilities and Critical Technologies Office, the Army Aviation and Missile Center, the Missile Defense Agency, and Air Force Research Laboratory are all key customers for i3’s hypersonics work. Lockheed Martin said in 2019 that i3 is one of its teammates on the Army’s LRHW, for which the company is the prime contractor. Lockheed Martin is also working on the Common Hypersonic Glide Body.
Once the deal closes, i3’s hypersonics portfolio will be managed by Lockheed Martin’s Space business area.
Houlihan Lokey served as i3’s financial adviser on the deal.