Lockheed Martin to Acquire Ultra Maritime Solutions

Press Release + Noah Note

Acquisition reinforces Lockheed Martin's commitment to domain expertise in anti-submarine warfare

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BETHESDA, Md., July 6, 2026 /PRNewswire/ -- Lockheed Martin [NYSE: LMT] today announced the signing of a definitive agreement to acquire Ultra Maritime, a global defense company specializing in advanced undersea warfare and anti-submarine warfare (ASW) capabilities for allied naval forces for $3.45 billion. The company develops and delivers mission-critical systems including sonar technologies, sonobuoys, torpedo defense systems, radar solutions, and autonomous maritime sensing platforms.

"Undersea superiority belongs to those who move fastest and work together best," said Stephanie C. Hill, president of Lockheed Martin Rotary and Mission Systems. "By joining forces with Ultra Maritime, we're accelerating our commitment to deliver the most advanced undersea and anti-submarine warfare capabilities to our U.S. and allied partners across the globe."

"When we invested in Ultra Maritime in 2022, we saw a business with mission-critical technology and a vital role in protecting allied nations from undersea threats, but one that had been underinvested and was not yet fully delivering for its customers," said Shonnel Malani, managing partner at Advent and chair of the board at Ultra Electronics. "Over the past four years, we have changed that. Ultra Maritime is now a stronger, more innovative partner to allied navies, with improved execution, greater industrial capacity and next-generation autonomous solutions that position it well for future warfare."

Ultra Maritime's international footprint and portfolio of exportable ASW products, such as its sonobuoys, towed sonar arrays and hull mounted sonar product lines, will complement and expand Lockheed Martin's ability to offer sonar solutions across next-gen maritime platforms.

Upon closing, the team will become part of Lockheed Martin's Rotary and Mission Systems business area.

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Advisors

Citi is serving as financial advisor, Hogan Lovells Cadwalader is serving as legal counsel, and Fried Frank is serving as tax counsel to Lockheed Martin.

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About Lockheed Martin

Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.

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Noah Note: I do not have the full details here, but this is an absolutely massive consolidation that will have significant ripples across the industry. As one of the lesders of Undersea tehcnology, Ultra has long stood as an anchor of Canadian industry, one of the best that we have. They are a major supplier to the River-class destroyer, undersea systems, sonobuoys, etc. Theyre a major supporter of R&D in the space, and one of our Undersea leaders.

Bringing them under the Lockheed banner, and the ripple that may have, is a major Shakeup of the current industry, and will have downstream effects no matter what occurs. This will be lost, and we still need details. We still have a lot of unknowns, but it further repositions Lockheed in the Space to take an even bigger role in Canada’s undersea domain, one that might be beneficial, might not. I can't say.

Either way this is significant, but until we have proper details we can't say much. The downstream of River will be significant, bringing one of the major suppliers under the Lockheed banner. However my concern, as always, will be how this effects current Canadian operations.

I have worries, as always with these things. How this could effext things like COBRA and CASS remains to be seen as well. Either way, on thr Canadian side it positions as a major consolidation of power.