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Lockheed Martin Selling EIG Unit To Veritas For $815 Million

DDN

Thursday, October 14th, 2010

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By Calvin Biesecker Lockheed Martin [LMT] yesterday said it has agreed to sell its Enterprise Integration Group (EIG) business to the private equity firm Veritas Capital for $815 million in cash, giving up the unit to avoid new organizational conflict of interest (OCI) rules that the U.S. government is establishing to prevent companies from simultaneously advising on, and competing for, the same procurement. The transaction is subject to regulatory approval and is expected to close this year. Veritas said that…

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