Lockheed Martin Completes Acquisition of i3 Hypersonics Portfolio

Rhea-AI Summary

Lockheed Martin has successfully acquired the Hypersonics portfolio from Integration Innovation Inc. (i3), enhancing its ability to design and develop integrated hypersonic weapon systems. The acquisition is expected to bolster Lockheed's strategic capabilities in the hypersonic domain. Mike Wicks, former CEO of i3, will lead the Hypersonic Engineering & Accelerated Technologies program at Lockheed. This transaction signifies Lockheed's commitment to advancing hypersonic technologies and offers potential growth in defense capabilities.

Positive

• Acquisition strengthens Lockheed Martin's hypersonic capabilities.
• Leadership by Mike Wicks may enhance integration and innovation.

Negative

• None.

HUNTSVILLE, Ala., Nov. 25, 2020 /PRNewswire/ -- Lockheed Martin [NYSE: LMT] has closed its acquisition of the Hypersonics portfolio of Integration Innovation Inc. (i3), a software and systems engineering company based in Huntsville, Alabama.

This expands Lockheed Martin's capabilities to design, develop and product integrated hypersonic weapon systems.

This acquisition expands Lockheed Martin's capabilities to design, develop and product integrated hypersonic weapon systems for its customers.

Mike Wicks, the former CEO of i3, has been named vice president of the Hypersonic Engineering & Accelerated Technologies program within the Hypersonic Strike Portfolio for Lockheed Martin Space.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 110,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. For additional information, visit our website: www.lockheedmartin.com.

Please follow @LMNews on Twitter for the latest announcements and news across the corporation.

 

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SOURCE Lockheed Martin

FAQ

What is Lockheed Martin's recent acquisition?

Lockheed Martin has acquired the Hypersonics portfolio from Integration Innovation Inc. (i3).

How does the acquisition impact Lockheed Martin's capabilities?

The acquisition enhances Lockheed Martin's ability to design and develop integrated hypersonic weapon systems.

Who will lead the new hypersonic program at Lockheed Martin?

Mike Wicks, the former CEO of i3, has been appointed vice president of the Hypersonic Engineering & Accelerated Technologies program.

What date was the acquisition of i3's hypersonics portfolio completed?

The acquisition was completed on November 25, 2020.

What are the expected benefits of the hypersonics acquisition for Lockheed Martin?

The acquisition is expected to provide strategic advantages and growth in hypersonic defense capabilities.