Lockheed Martin Buying Sikorsky for $9 Billion

July 20th, 2015

Via: Reuters:

Lockheed Martin Corp (LMT.N) has agreed to buy United Technologies Corp’s (UTX.N) Sikorsky Aircraft for over $8 billion, two sources said on Sunday, cementing a deal that would confirm Lockheed’s dominance in weapons making and giving the Black Hawk helicopter to the maker of the F-35 fighter jet.

The deal will add further heft to Lockheed, which already has annual revenues of around $45 billion and dwarves its nearest competitors, the defense business of Boeing Co (BA.N) and Northrop Grumman Corp (NOC.N).

It will make Lockheed less reliant on the $391 billion F-35 fighter jet business, while expanding its overseas sales by adding Sikorsky’s iconic Black Hawk helicopters to a product line that already spans everything from satellites to naval ships.

Posted in Economy, War | Top Of Page

2 Responses to “Lockheed Martin Buying Sikorsky for $9 Billion”

  1. Dennis says:
    July 20, 2015 at 8:42 pm

    Here come the mega-drones and armed drone flotillas.

  2. pookie says:
    July 22, 2015 at 7:21 pm

    Jaysus — where are the proofreaders?!

    Should be “dwarfs its nearest competitors”.

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