The Maryland-based aerospace & defense manufacturer Lockheed Martin (LMT
) announced on Wednesday that it is acquiring an IT firm based in the United Kingdom.
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Specifically, Lockheed Martin is acquiring Armor Group, which is a company that specializes in providing information technology services to businesses in the energy, transport, and public services sectors. Headquartered in Glasgow, Scotland, Armor Group is a privately held company with offices in 15 countries and a staff of over 500 employees. One of the company’s biggest success stories is the Chroma Airport Suite, which is an operational system used in more tan 75 airports to help track both aircraft movements as well as passengers. Lockheed Martin did not disclose any specific terms regarding the acquisition.
Lockheed Martin shares climbed higher on Wednesday, gaining 1.20% on the day. The stock is up 37% YTD.
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