Unitech to be Purchased by Lockheed
January 5, 2009 by Matthew Potter · Comment
Filed under: Acquisitions, Business Line, Events, Florida, IT, Lockheed Martin, training, Unitech
Filed under: Acquisitions, Business Line, Events, Florida, IT, Lockheed Martin, training, Unitech
Lockheed Martin has agreed to buy Unitech sometime this year. Unitech is a smallish simulation producing company located in the Orlando area. The Orlando Sentinel reports that a deal to buy the company was worked out recently. Unitech complements the work that Lockheed has done in the simulation area in Orlando for years. The company has earnings of around $140 million, and it is common in these types of deals for private companies to pay about one year’s earnings for it. Many smaller defense contractors grow from one or two contracts to a size of between one to two hundred million and are then bought by another company. Larger companies buy them to gain work or expertise in a discipline or area that they might not have.
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