Lockheed Martin (NYSE: LMT) has a deal in place to sell its Enterprise Integration Group (EIG) business to Veritas Capital for $815 million.
The firm cites the U.S. government’s growing apprehension of organizational conflicts of interest.
According to the firm, “EIG provides system engineering services, architecture, and integration services and support to a broad range of government customers.”
Lockheed feels that parting ways with the business puts the firm in a better growth position.
“The decision to divest EIG followed a comprehensive review of our portfolio to find ways to continuously provide the best, most affordable solutions for our customers, a secure future for our employees and value for our shareholders, ” said Lockheed Martin Chairman & CEO Robert J. Stevens. “EIG and its employees continuously demonstrate tremendous capability and serve the nation with dedication, diligence and honor. I am confident that the company and its employees will continue to thrive under the management of Veritas.”