Lockheed Martin to acquire Ultra Maritime for $3.45 billion

Lockheed Martin to acquire Ultra Maritime for $3. 45 billion Lockheed Martin to acquire Ultra Maritime for $3. 45 billion · Quartz · SOPA Images Cris Tolomia Mon, July 6, 2026 at 3:05 PM GMT+2 2 min read LMT Lockheed Martin agreed to acquire Ultra Maritime from private equity firm Advent for $3.

45 billion on Monday, expanding the defense contractor's undersea and anti-submarine warfare capabilities. Sold out of Advent's Cobham Ultra subsidiary, Ultra Maritime offers a range of undersea warfare products including sonobuoys, sonar systems, torpedo defense countermeasures, radar solutions, and autonomous maritime sensing platforms. Naval customers in the United States, Canada, the United Kingdom, and Australia make up the company's core market base.

Lockheed Martin said Ultra Maritime's employees will be folded into its Rotary and Mission Systems business area once the transaction is complete. "Undersea superiority belongs to those who move fastest and work together best," said Stephanie C. Hill, president of Lockheed Martin Rotary and Mission Systems, in a statement.

"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.

" Advent acquired Ultra Maritime in 2022 and invested approximately $170 million in product development and manufacturing over the subsequent years, including building out an independent sonobuoy production capability. Annual revenues grew roughly 17% per year during that period, Advent said. Cobham Ultra came together when Advent merged its 2019 Cobham purchase with Ultra Electronics, which it had taken over in 2022.

In 2025, Ultra Maritime announced partnerships with Anduril Industries and General Atomics Aeronautical Systems to develop autonomous ocean sensing and unmanned airborne anti-submarine warfare capabilities, respectively, Advent said. A U. S.

Navy contract awarded to Ultra Maritime earlier this year covers development of an acoustic decoy system intended to defend vessels and submarines against incoming torpedoes, according to Reuters . The acquisition comes as Lockheed Martin's Rotary and Mission Systems segment has faced pressure. The segment's operating profit fell 19% to $423 million in the first quarter of 2026 , hurt by unfavorable adjustments on helicopter programs, while overall revenue for the segment declined 8%.

The deal would reinforce that segment with a specialized undersea warfare portfolio. The transaction remains subject to regulatory approvals and customary closing conditions. Citi is serving as financial advisor to Lockheed Martin, with Hogan Lovells Cadwalader as legal counsel and Fried Frank as tax counsel, the company said.