By Dean Seal
Lockheed Martin has signed a deal to acquire the defense company Ultra Maritime for $3.45 billion from private equity firm Advent International.
The aerospace and defense contractor said Monday that Ultra Maritime's portfolio of anti-submarine warfare will complement and expand its ability to offer sonar solutions for maritime platforms.
When the deal closes, Ultra Maritime will become part of Lockheed's Rotary and Mission Systems business segment.
An expected closing date for the deal wasn't disclosed.
Write to Dean Seal at dean.seal@wsj.com