Lockheed Martin to acquire Aculight
BETHESDA, MD—Aeronautics, electronics, information systems, and space systems giant Lockheed Martin Corporation entered into a definitive agreement to acquire Aculight Corporation (Bothell, WA), a privately held company primarily focused on providing laser- based solutions for national defense and aerospace customers.
BETHESDA, MD—Aeronautics, electronics, information systems, and space systems giant Lockheed Martin Corporation entered into a definitive agreement to acquire Aculight Corporation (Bothell, WA), a privately held company primarily focused on providing laser- based solutions for national defense and aerospace customers. The new business unit will report to Lockheed Martin’s Maritime Systems & Sensors business in Akron, OH, but the companies are not disclosing terms of the transaction.
“This transaction is consistent with Lockheed Martin’s focus on acquiring companies with strategic capabilities that strengthen our core offerings and create potential for adjacent market expansion,” said Chris Kubasik, executive VP of Lockheed Martin’s Electronic Systems business area. “Aculight’s expertise in countermeasures, laser radar, and high-power directed energy will be of tangible benefit to Lockheed Martin’s customers in areas such as guided munitions, airborne self-protection and advanced sensors.”
“Aculight’s focus is to be a leader in providing high quality, innovative and cost-effective laser system solutions for our customers,” said Don Rich, Aculight CEO. “Becoming a part of Lockheed Martin will provide us with additional reach and resources to help achieve these goals.”
The transaction is subject to Aculight shareholder approval and is expected to close in the third quarter of 2008. Founded in 1993, Aculight has approximately 90 employees. Lockheed Martin employs about 140,000 people worldwide and reported 2007 sales of $41.9 billion.
Aculight made news in late July by announcing that it was awarded a new contract under the federal Small Business Innovation Research (SBIR) program. The $125,000 Phase I award from the National Institutes of Health (NIH) funds development of a handheld laser-based nerve stimulator for use by ear, nose, and throat specialists to identify cranial nerves during surgery. The device will use infrared nerve stimulation (INS) to diagnose and treat those suffering neurological trauma, including the growing population of young, brain-injured veterans returning from combat.