Lockheed Martin to Acquire Ultra Maritime for $3.45 Billion in Undersea Defense Push

Lockheed Martin has agreed to acquire undersea warfare technology company Ultra Maritime from private equity firm Advent in a deal valued at $3.45 billion, expanding its capabilities in anti-submarine warfare as Western navies ramp up investment in underwater defense.

The acquisition, announced Monday, will bring Ultra Maritime’s portfolio of sonar systems, sonobuoys, torpedo defense technologies and other undersea warfare products into Lockheed Martin’s Rotary and Mission Systems business. The transaction remains subject to customary regulatory approvals and closing conditions.

Ultra Maritime was carved out by Advent following its 2022 acquisition of Ultra Electronics. Since then, Advent said it has invested roughly