Lockheed Martin Completes Acquisition of STASYS Limited
BETHESDA, Md., February 28th, 2005 -- Lockheed Martin Corporation [NYSE: LMT] has completed the acquisition of STASYS Limited, a U.K.-based technology and consulting firm specializing in network communications and defense interoperability. Terms of the transaction were not disclosed.
Serving a diverse range of international defense and civil government customers, STASYS provides highly specialized expertise in tactical data link integration, requirements management, modeling and simulation, and air traffic management consulting. The company’s strong capabilities in the communications arena complement Lockheed Martin’s broad portfolio of net-centric technologies in the U.S. and abroad.
“We’re very pleased to welcome STASYS to the Lockheed Martin team,” said Bob Stevens, Lockheed Martin’s President and Chief Executive Officer. “Completing this acquisition marks another step forward in our long-term strategy of strengthening our core competencies through disciplined investment. It also enhances our presence in the U.K., and reiterates our commitment to our international customers. STASYS expands our ability to deliver sophisticated network-enabled solutions in the international arena.”
“This is an outstanding opportunity for our employees and our organization,” said Julian Ranger, STASYS Managing Director and CEO. “We’re excited about joining the Lockheed Martin team, and we’re confident this will be a win-win for our customers and our employees.”
The new organization will be known as Lockheed Martin STASYS Limited and will be a wholly-owned subsidiary of Lockheed Martin UK Holdings Ltd. Lockheed Martin Integrated Systems & Solutions, based in Gaithersburg, Md., will manage all operational aspects of the business.
LOCKHEED MARTIN SAFE HARBOR STATEMENT: Statements in this press release, including the statements relating to projected future financial performance, are considered forward-looking statements under the federal securities laws. Sometimes these statements will contain words such as "anticipates," "expects," "plans," "projects," "estimates," "outlook," "forecast," "guidance," "assumes," and other similar words. These statements are not guarantees of the Corporation's future performance and are subject to risks, uncertainties and other important factors that could cause the Corporation's actual performance or achievements to be materially different from those the Corporation may project.
The Corporation's actual results will likely be different from those projected due to the inherent nature of projections and may be better or worse than projected. Given these uncertainties, you should not rely on forward-looking statements. Forward-looking statements also represent the Corporation's estimates and assumptions only as of the date that they were made. The Corporation expressly disclaims a duty to provide updates to forward-looking statements, and the estimates and assumptions associated with them, after the date of this press release to reflect the occurrence of subsequent events, changed circumstances or changes in the Corporation's expectations.
In addition to the factors set forth in the Corporation's 2003 Form 10-K and quarterly reports filed on Form 10-Q with the Securities and Exchange Commission (www.sec.gov), the following factors could affect the Corporation's forward-looking statements: the ability to obtain or the timing of obtaining future government awards; the availability of government funding and customer requirements both domestically and internationally; changes in government or customer priorities due to program reviews or revisions to strategic objectives (including changes in priorities in response to terrorist threats or to improve homeland security); the competitive environment; economic business and political conditions domestically and internationally; program performance; the timing and customer acceptance of product deliveries; performance issues with key suppliers and subcontractors; customer and other regulatory reaction to the proposed acquisition and the outcome of contingencies (including completion of any acquisitions and divestitures, litigation and environmental remediation efforts). These are only some of the numerous factors that may affect the forward-looking statements contained in this press release.
Jeff Adams (301) 897-6308; e-mail email@example.com
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