News Article

Lockheed Martin to acquire Aculight
Date: Jul 29, 2008
Author: David Hubler
Source: ( click here to go to the source)

Featured firm in this article: Aculight Corporation of Bothell, WA

Lockheed Martin Corp. is acquiring Aculight Corp., a privately held provider of laser- based systems primarily for national defense and aerospace customers. The financial terms of the transaction were not disclosed. The Bothell, Wash., company will become a unit of Lockheed Martin's Maritime Systems and Sensors business in Akron, Ohio. Founded in 1993, Aculight has about 90 employees. Aculight offers a broad portfolio of technologies that include solid state lasers, fiber lasers, nonlinear optics and high brightness lasers. In addition to defense-related lasers, the company produces laser-based systems for medical applications. The transaction is consistent with Lockheed's focus on acquiring companies with strategic capabilities that strengthen its core offerings and create market expansion potential in areas such as guided munitions, airborne self-protection and advanced sensors, Chris Kubasik, executive vice president of Lockheed Martin's Electronic Systems business unit, said in a statement. The transaction is subject to approval by Aculight shareholders and other closing conditions. Lockheed executives expect the transaction will close in the third quarter of 2008. Lockheed Martin, of Bethesda, Md., ranks No. 1 on Washington Technology's 2008 Top 100 list of the largest federal government prime contractors.