Lockheed Martin Completes ORINCON Acquisition
BETHESDA, MD, June 26th, 2003 -- Lockheed Martin Corporation [NYSE:LMT] today announced that it has completed the acquisition of ORINCON Corporation International. Terms of the agreement were not disclosed. A systems integration and information technology company, ORINCON's expertise in knowledge management, information assurance, signal & image processing and data fusion will enhance Lockheed Martin's position in the ISR (intelligence, surveillance, and reconnaissance) industry.
"This adds a new set of extremely innovative ideas and technical capabilities to the Lockheed Martin team. We look forward to delivering complex solutions to meet our customers' most demanding ISR requirements," said Stan Sloane, president, Lockheed Martin, Management & Data Systems (M&DS). Lockheed Martin M&DS will manage the ORINCON business.
"We take tremendous pride in what ORINCON has accomplished and we are convinced that this acquisition enables tremendous new business and growth opportunities for us," said Art Garner, president of ORINCON.
Headquartered in King of Prussia, PA, Lockheed Martin M&DS has been a leader in systems integration, systems engineering, software development and program management in support of vital national systems for more than 30 years.
Meghan Mariman, 301-897-6195, meghan.mariman@lmco.com
Jim Waddington, 610-354-1477, james.r.waddington@lmco.com
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