Lockheed Martin signs deal to buy Ultra Maritime for $3.45 billion to bolster undersea and anti-submarine capabilities

Lockheed Martin has signed a definitive agreement to acquire Ultra Maritime in a deal valued at $3.45 billion, the company said Monday. The acquisition is intended to expand Lockheed Martin’s undersea warfare and anti-submarine warfare capabilities for U.S. and allied customers, according to coverage of the announcement.

Ultra Maritime is owned by private equity firm Advent International and focuses on anti-submarine technology, including radar and electronic warfare systems, as well as torpedo defense countermeasures, according to reporting that summarized the deal details. Once the transaction closes, Ultra’s team is expected to be folded into Lockheed Martin’s Rotary and Mission Systems business area, per the same reports.

In comments tied to the announcement, Stephanie C. Hill, president of Lockheed Martin Rotary and Mission Systems, said the acquisition would accelerate Lockheed Martin’s ability to deliver advanced undersea and anti-submarine warfare capabilities. The company also indicated that Citi served as a financial adviser in connection with the deal, while Advent did not disclose its financial advisers in the reporting.

The announcement follows the long-running emphasis in naval procurement on countering submarine threats, where sensors, electronic warfare, and defensive countermeasures can be as important as platform performance. By adding Ultra Maritime’s anti-submarine technology portfolio, Lockheed Martin is effectively deepening a niche that supports detection and survivability against underwater and torpedo-based threats.

For Lockheed Martin, Ultra Maritime would expand the technological toolkit feeding into its broader mission systems work, which includes integrating sensors and countermeasures for complex, multi-domain combat. Rotary and Mission Systems is the segment that includes a range of defense electronics and mission-focused capabilities, so bringing in Ultra’s underwater-focused systems is aligned with building offerings across maritime defense and protection of naval assets.

While the pricing and strategic rationale are clear, the deal terms beyond the headline valuation were not fully detailed in the articles reviewed. The reports referenced a definitive agreement, but did not provide comprehensive disclosure on expected closing timing, regulatory milestones, or whether the purchase price includes specific contingent components.

What to watch next is whether Lockheed Martin provides additional information on deal closure conditions, integration plans for Ultra’s products and personnel, and how the acquired systems will be positioned in active procurement programs for undersea and anti-submarine warfare. Investors and procurement officials will also look for any updates on customer commitments or backlog tied to Ultra’s radar, electronic warfare, and torpedo defense countermeasures.