Eric Scherff VP Lockheed Martin
Lockheed Martin has signed a definitive agreement to acquire a portion of Integration Innovation Inc. (i3), a software and systems engineering company, to advance hypersonic-specific technology platforms for the warfighter, Lockheed announced Friday.
“Our customers require the most forward-thinking, advanced technology that anticipates and addresses their national security requirements. This business combination not only reinforces our commitment to their missions, but also expands our portfolio in a strategic way,” said Eric Scherff, vice president of Lockheed’s hypersonic strike programs.
With the acquisition, Lockheed will gain i3’s hypersonic strike and defense business that have offered strategic solutions to both the private and public sectors. Lockheed Martin’s portfolio will expand capabilities for customers across several mission areas and national security needs and be able to provide more integrated solutions.
“Combining i3’s talent and domain expertise with our shared vision for hypersonic strike will expand how we think about and deliver this critical capability to the warfighter across domains,” added Scherff.
The acquisition agreement is subject to the satisfaction of customary closing conditions. The transaction is expected to close in approximately 30 days. Upon closing, i3’s Hypersonics portfolio will be managed by the corporation’s Space business area.
“We’re proud to be a part of the Lockheed Martin family, as they are a technology authority and employ some of the best and brightest in the industry,” said Mike Wicks, i3 CEO. “We have invested much time and energy into developing strategic solutions at i3. And, we’re finding the need to synergize these offerings with Lockheed Martin is more timely than ever and unlocks the value to our joint customers.”
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.