Lockheed Martin has signed a definitive agreement to acquire Ultra Maritime, a global defense company specializing in advanced undersea warfare and anti-submarine warfare (ASW) technologies, in a deal valued at $3.45 billion. The acquisition is aimed at expanding Lockheed Martin’s capabilities in naval defense and enhancing its portfolio of advanced maritime systems for the United States and allied nations.
Ultra Maritime is recognized for developing mission-critical technologies that support naval operations in increasingly complex maritime environments. Its portfolio includes sonar systems, sonobuoys, torpedo defense technologies, radar solutions, and autonomous maritime sensing platforms designed to detect, track and counter underwater threats.
Following the completion of the transaction, Ultra Maritime will become part of Lockheed Martin’s Rotary and Mission Systems business area, strengthening the company’s ability to deliver integrated undersea warfare solutions to defense customers worldwide.
Stephanie C Hill, President of Lockheed Martin Rotary and Mission Systems, said the acquisition reflects the company’s focus on advancing next-generation undersea capabilities. She noted that combining the expertise of both organizations will accelerate the delivery of advanced anti-submarine warfare technologies while supporting the evolving operational requirements of the U.S. military and allied naval forces.
Ultra Maritime has significantly expanded its capabilities in recent years through investments in technology, manufacturing and product development. The company has strengthened its position as a supplier of advanced naval systems, supporting customers with innovative solutions designed for modern maritime operations.
Shonnel Malani, Managing Partner at Advent and Chair of the Board at Ultra Electronics, said the business has undergone a major transformation since Advent’s investment in 2022. He said Ultra Maritime has enhanced its execution, increased industrial capacity and expanded its portfolio of autonomous and next-generation technologies, positioning the company to address future defense requirements.
The acquisition will also strengthen Lockheed Martin’s international presence in the undersea defense market. Ultra Maritime’s export-ready product portfolio—including sonobuoys, towed sonar arrays and hull-mounted sonar systems—will complement Lockheed Martin’s existing offerings and broaden its ability to support current and future naval platforms across allied fleets.
The transaction remains subject to customary regulatory approvals and closing conditions.Citi is serving as financial advisor to Lockheed Martin, while Hogan Lovells Cadwalader is acting as legal counsel. Fried Frank is serving as tax counsel for the transaction.
Lockheed Martin is a global defense technology company that develops advanced solutions across air, land, sea, space and cyber domains. The company continues to invest in technologies that enhance national security and strengthen defense readiness for customers around the world.
