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Lockheed Martin To Acquire Sikorsky, Divest Government IT And Technical Services Work

Cal Biesecker By
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Lockheed Martin To Acquire Sikorsky, Divest Government IT And Technical Services Work
Lockheed Martin Chairman, President and CEO Marillyn Hewson

As expected, Lockheed Martin [LMT] on Monday said it has agreed to acquire the Sikorsky Aircraft business from United Technologies Corp. [UTX] for $9 billion, adding a helicopter design and manufacturing to its portfolio, but the company unexpectedly announced it is undertaking a strategic review of its government information technology (IT) and technical services businesses with a goal to either spin-off or sell them.The deal for Sikorsky, which was officially put on the market in June by UTC after a…

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