Lockheed Martin is leading the race to acquire Ultra Maritime, owned by private-equity firm Advent International, in a deal that could value the naval defence business at about $3.5 billion, according to a report by the Financial Times.
The potential deal comes as defence contractors seek to expand their military technology portfolios amid heightened geopolitical tensions and increased defence spending driven by conflicts, including the war in Ukraine and fighting in the Middle East.
Ultra Maritime, which specializes in anti-submarine warfare and undersea defence technologies, is part of Cobham Ultra, a group created after Advent acquired British aerospace Cobham in 2019 and later combined it with Ultra Electronics following its 2022 takeover.
Talks are ongoing, and a deal could be announced as early as next week, the report said, adding that several other bidders remain interested in Ultra Maritime as part of a competitive auction process.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
