Lockheed Martin NYSE:LMT will buy naval defense company Ultra Maritime from Advent for $3.45 billion, the private equity firm said on Monday.
Ultra Maritime, specializing in anti-submarine warfare and undersea defense technologies, is a part of Cobham Ultra — created after Advent acquired British aerospace Cobham in 2019 and then combined it with Ultra Electronics following its 2022 takeover.
Earlier this year, Ultra Maritime received a development contract from the U.S. Navy for its underwater acoustic decoy, designed to protect ships or submarines from torpedoes.