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Lockheed Martin Agrees to Acquire Aculight Corporation

Written by thomas · Filed Under Aeronautics News 

July 28, 2008

thomas

Company is a Leading Developer and Producer of Innovative Laser
Technologies

BETHESDA, Md., July 28 /PRNewswire-FirstCall/ — Lockheed Martin
Corporation (NYSE: LMT) has entered into a definitive agreement to acquire
Aculight Corporation based in Bothell, WA. Aculight is a privately held
company primarily focused on providing laser-based solutions for national
defense and aerospace customers. The new business unit will report to
Lockheed Martin’s Maritime Systems & Sensors business in Akron, OH. The
companies are not disclosing terms of the transaction.

“This transaction is consistent with Lockheed Martin’s focus on
acquiring companies with strategic capabilities that strengthen our core
offerings and create potential for adjacent market expansion,” said Chris
Kubasik, Executive Vice President of Lockheed Martin’s Electronic Systems
business area. “Aculight’s expertise in countermeasures, laser radar, and
high power directed energy will be of tangible benefit to Lockheed Martin’s
customers in areas such as guided munitions, airborne self-protection and
advanced sensors.”

“Aculight’s focus is to be a leader in providing high quality,
innovative and cost-effective laser system solutions for our customers,”
said Don Rich, Chief Executive Officer of Aculight. “Becoming a part of
Lockheed Martin will provide us with additional reach and resources to help
achieve these goals. We are looking forward to becoming part of the
Lockheed Martin team.”

The transaction is subject to Aculight shareholder approval and
satisfaction of other closing conditions. It is expected that the
transaction will close in the third quarter of 2008. Founded in 1993,
Aculight has approximately 90 employees.

Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000
people worldwide and is principally engaged in the research, design,
development, manufacture, integration and sustainment of advanced
technology systems, products and services. The corporation reported 2007
sales of $41.9 billion.

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