Lockheed Martin to purchase Ultra Maritime in $3.5B deal

Lockheed Martin has announced it is acquiring Ultra Maritime as part of a $3.45 billion deal. Ultra Maritime specializes in undersea and anti-submarine warfare capabilities, including sonar technologies, sonobuoys, torpedo defense systems, radar solutions, and autonomous maritime sensing platforms. Lockheed Martin stated that Ultra Maritime will fall under its rotary and mission systems division upon closing. Private equity investor Advent acquired Ultra Maritime in 2022 and has since invested approximately $170 million in advanced product development and manufacturing, increasing annual revenue by about 17%. Last year, Ultra Maritime formed strategic partnerships with Anduril and General Atomics Aeronautical Systems to develop next-generation autonomous subsea sensing and unmanned airborne submarine detection. In April, the US Navy awarded Ultra Maritime a sole-source contract for low-rate initial production of the AN/SSQ-125B sonobuoy.