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Business/Financial

Lockheed Martin Completes Sale of PAE Unit To Private Equity Firm

DDN

Wednesday, April 6th, 2011

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Lockheed Martin [LMT] yesterday said that it has completed the divestiture of its Pacific Architects and Engineers (PAE) business unit to the private equity firm Lindsay Goldberg, LLC. Terms of the transaction will not be disclosed, Lockheed Martin said. Lockheed Martin last June decided to divest PAE after it realized the businesses' customers were seeking solutions that were not part of Lockheed Martin's core integrated solutions. The company announced in February that Lindsay Goldberg had agreed to acquire PAE. Lockheed…

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