Tuesday, July 29, 2008

Aculight Acquired By Lockheed Martin

Defense and aerospace contractor Lockheed Martin Corp. has agreed to acquire Evergreen State contractor Aculight Corp., Lockheed Martin announced Monday. Terms of the deal, which is expected to close later this quarter and is subject to shareholder approval and customary closing conditions, were not disclosed. Headquartered in Bothell, Wash., Aculight is a privately held company that manufactures laser-based systems for national defense and aerospace customers. Lockheed Martin said it will convert Aculight into a new business unit and that the unit will report to Lockheed Martin's Maritime Systems & Sensors business, which is based in Akron, Ohio. Lockheed Martin's corporate headquarters are located in Bethesda, Md. The company employs some 140,000 people worldwide.