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Lockheed Martin Completes $3.45-Billion Acquisition of Nova Scotia's Ultra Maritime
United States defence and aerospace giant Lockheed Martin LMT-N has acquired Nova Scotia-based undersea defence company Ultra Maritime for
United States defence and aerospace giant Lockheed Martin LMT-N has acquired Nova Scotia-based undersea defence company Ultra Maritime for $3.45-billion. Lockheed Martin completed its acquisition of Ultra Maritime last week after the two companies signed a deal in July. Lockheed Martin says it had been an investor in Ultra Maritime since 2022. Based in Dartmouth and founded in 1947 as Cossar (Canada) Ltd., Ultra Maritime specializes in advanced undersea and anti-submarine warfare.
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Lockheed Martin Completes $3.45-Billion Acquisition of Nova Scotia's Ultra Maritime
U.S. defence and aerospace group Lockheed Martin has acquired Ultra Maritime, an undersea defence company based in Dartmouth, Nova Scotia, for $3.45 billion. Ultra Maritime makes sonar systems, sonobuoys and torpedo defence systems that help allied navies detect and track submarine threats. Lockheed Martin completed the purchase last week, after the two companies signed an agreement in July. The company said it had held a stake in Ultra Maritime since 2022, so the acquisition brings its existing investment fully under its control. The deal adds undersea warfare capability to Lockheed's portfolio at a time when allied navies are investing heavily in anti-submarine technology.