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Lockheed Martin Closes EIG Sale To Veritas

DDN

Wednesday, November 24th, 2010

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Lockheed Martin [LMT] yesterday completed the sale of its Enterprise Integration Group (EIG) business to Veritas Capital for $815 million in cash, shedding the unit to avoid potential conflicts of interest with other Lockheed Martin businesses that work with the Defense Department. The EIG unit had $626 million in sales for the 12-month period that ended on June 30. The business provides system engineering services, architecture, and integration services and support to a number of government customers. Lockheed Martin announced…

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