Lockheed Martin to acquire Ultra Maritime for $3.45 billion

Sold retired of Advent's Cobham Ultra subsidiary, Ultra Maritime offers a scope of undersea warfare products including sonobuoys, sonar systems, torpedo defence countermeasures, radar solutions, and autonomous maritime sensing platforms. Naval customers successful the United States, Canada, the United Kingdom, and Australia marque up the company's halfway marketplace base. Lockheed Martin said Ultra Maritime's employees volition beryllium folded into its Rotary and Mission Systems concern country erstwhile the transaction is complete.

"Undersea superiority belongs to those who determination fastest and enactment unneurotic best," said Stephanie C. Hill, president of Lockheed Martin Rotary and Mission Systems, successful a statement. "By joining forces with Ultra Maritime, we're accelerating our committedness to present the astir precocious undersea and anti-submarine warfare capabilities to our U.S. and allied partners crossed the globe."

Advent acquired Ultra Maritime successful 2022 and invested astir $170 cardinal successful merchandise improvement and manufacturing implicit the consequent years, including gathering retired an autarkic sonobuoy accumulation capability. Annual revenues grew astir 17% per twelvemonth during that period, Advent said. Cobham Ultra came unneurotic erstwhile Advent merged its 2019 Cobham acquisition with Ultra Electronics, which it had taken implicit successful 2022.

In 2025, Ultra Maritime announced partnerships with Anduril Industries and General Atomics Aeronautical Systems to make autonomous water sensing and unmanned airborne anti-submarine warfare capabilities, respectively, Advent said. A U.S. Navy declaration awarded to Ultra Maritime earlier this twelvemonth covers improvement of an acoustic decoy strategy intended to support vessels and submarines against incoming torpedoes, according to Reuters.

The acquisition comes arsenic Lockheed Martin's Rotary and Mission Systems conception has faced pressure. The segment's operating nett fell 19% to $423 cardinal successful the archetypal 4th of 2026, wounded by unfavorable adjustments connected chopper programs, portion wide gross for the conception declined 8%. The woody would reenforce that conception with a specialized undersea warfare portfolio.

The transaction remains taxable to regulatory approvals and customary closing conditions. Citi is serving arsenic fiscal advisor to Lockheed Martin, with Hogan Lovells Cadwalader arsenic ineligible counsel and Fried Frank arsenic taxation counsel, the institution said.