Report: UAE, Lockheed Seal $1.6B F-16 Upgrade Deal

Lockheed Martin (NYSE: LMT) has secured a potential $1.6 billion order to perform upgrades to the United Arab Emirates’ F-16 fighter aircraft, The National reported Sunday.

The report said UAE’s armed forces entered numerous defense deals with U.S. companies, which include an agreement for Lockheed to modernize 80 F-16s.

Lockheed CEO Marillyn Hewson told The National that the company has seen increased demand over the past year from Gulf countries, particularly for air and missile defense systems, amid security challenges in the region.

Lockheed is undergoing government processes for potential deals to deliver the Terminal High Altitude Area Defense anti-missile defense platform to Saudi Arabia as well as additional F-16s to Bahrain, Hewson added.

You may also be interested in...

Gil Dussek CEO Gunnison Consulting Group

Gunnison Buys Federal IT Service Management Firm G2SF; Gil Dussek Quoted

Gunnison Consulting Group has acquired Global Solutions & Services Frameworks for an undisclosed sum to expand its information technology service management, mobile computing and cybersecurity capabilities in the federal government services market. “This deal aligns with our modernization strategy and we remain focused on improving critical government programs, while driving long-term innovation to meet evolving customer demands," said Gunnison CEO Gil Dussek.

Telos

Cybersecurity Firm Telos Launches IPO

Telos (Nasdaq: TLS) targeted to raise approximately $254M from the Ashburn, Virginia-based cybersecurity company's initial public offering Thursday, offering 15M shares of common stock with pricing at $17 each.