Lockheed MartinÂ (NYSE: LMT)Â has purchased a minority stake in San Diego-based semiconductor firm IQ-Analog for an undisclosed amount through the formerâs venture capital arm, the Wall Street Journal reported Thursday.
Doug Cameron writes the move is part of Lockheedâs efforts to tap emerging technology firms as the Defense Department seeks technology platforms that can be redesigned for military applications.
The acquisition also marks the initial investment that Lockheed made since it launchedÂ in the summer a $100 million fund, Cameron reports.
IQ-AnalogÂ designs and produces chips that work to process data at high speeds and can be integrated with military sensors.
Chris Moran, Â general manager of Lockheed Martin Ventures, said the company may syndicate the investment to other industry partners such as firmsÂ that work on fifth-generation cellphone devices.
Moran noted that he considers over 100 companies that have potential to become subcontractors and that he plans to increase Lockheed Martin Venturesâ staff to five assigned across Washington, Boston and Silicon Valley, the report added.