BETHESDA, Maryland, Sept. 11, 2013 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) announced the acquisition of Amor Group, a United Kingdom-based company specializing in information technology solutions for the energy, transport and public services sectors. Terms of the agreement were not disclosed.
"The strategic acquisition of Amor Group is aligned with our strategy for Lockheed Martin International and expands our capabilities and expertise in international information technology, civil government services and the energy market," said Lockheed Martin CEO and President Marillyn Hewson. "We're pleased to welcome the talented Amor Group team to Lockheed Martin and look forward to offering these new technologies to our global customers."
Amor Group is a privately held company with more than 500 employees across seven facilities in the United Kingdom and a presence in 15 additional countries. The company's products help oil and gas operators protect production assets; its unique systems ensure the effective operation of airports; and its approach to information and communications technology delivers important services for UK citizens. It is headquartered in Glasgow, Scotland.
"Amor Group is focused on delivering business critical outcomes for global oil and gas operators, international airports and UK government departments and agencies," said Amor Group CEO John Innes. "Our success is a direct result of our talented and dedicated employees and we're excited that this combination will enable us to continue to expand our reach and grow our business."
For its Transportation customers, Amor Group has developed a suite of solutions, Chroma Airport Suite, which is operational at more than 75 airports worldwide and manages more than 3 million aircraft movements and tracks 700 million passengers a year. This complements Lockheed Martin's work with the U.S. Federal Aviation Administration and several global customers.
Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 116,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services. The Corporation's net sales for 2012 were $47.2 billion.
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Lockheed Martin Forward-Looking Statements:
Statements in this release about future actions and the consequences of these actions are "forward-looking statements" and are based on Lockheed Martin's current expectations and assumptions. Forward-looking statements in this release include, but are not limited to statements concerning, the potential for growth as result of the transaction. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Potential risks and uncertainties include, but are not limited to: our ability to successfully integrate an international business and generate synergies, the resolution or continuation of sequestration and the current budget crisis domestically and internationally that may lead to changes in funding levels or changes in customer needs and priorities, the international economic environment which could change the demand for products and services, differing regulatory requirements internationally, the ability to attract and retain a skilled workforce following an acquisition and in an uncertain funding environment, as well as other risks and uncertainties described from time to time in Lockheed Martin's Form 10-K (including under the caption "Risk Factors") and other filings with the Securities and Exchange Commission. All information in this release is as of Sept. 11, 2013. Lockheed Martin disclaims any duty to update forward-looking statements to reflect subsequent events, actual results or changes in expectations. For further information regarding risks and uncertainties associated with Lockheed Martin's business, please refer to the Corporation's SEC filings, which may be obtained at the Corporation's website: http://www.lockheedmartin.com.
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