Hello, Guest!
  • Wednesday, April 24, 2024

Lockheed Closes i3 Hypersonics Portfolio Buy

Lockheed Martin (NYSE: LMT) has completed its purchase of the hypersonic strike and defense business from Huntsville, Alabama-based software and systems engineering firm Integration Innovation Inc. for an undisclosed amount.

Both parties first announced the transaction in early October and Lockheed said Tuesday it aims to increase its ability to build integrated hypersonic weapon systems through the acquisition.

The acquired business will operate under the Bethesda, Maryland-based company's space segment.

Former i3 CEO Mike Wicks joined Lockheed as vice president for the Hypersonic Engineering and Accelerated Technologies program.

Video of the Day

Related Articles

SAIC’s Jay Meil on Joint Warfighting & AI Artificial Intelligence

SAIC’s Jay Meil on Joint Warfighting & AI

Joint warfighting is a major focus for the Department of Defense as it works to adapt to the challenges of the modern battlefield, a constantly shifting landscape in which success is determined by data and digital capabilities. Interested in getting a comprehensive look into the intricacies of joint warfighting initiatives? The Potomac Officers Club’s Joint Coalition

Mark Procaccini Assumes Operations SVP Role at Raft; Shubhi Mishra Quoted Executive Moves

Mark Procaccini Assumes Operations SVP Role at Raft; Shubhi Mishra Quoted

Government technology company Raft has appointed GovCon industry veteran Mark Procaccini as senior vice president of operations. The company said Tuesday Procaccini will bring his years of experience in mergers and acquisitions, contracting, private equity and integration to this newly created position, where he will help scale operations to support Raft’s growth initiatives. “Mark is

RTX Posts 12% Sales Growth in Q1 2024; Chris Calio Quoted Financial Reports

RTX Posts 12% Sales Growth in Q1 2024; Chris Calio Quoted

RTX (NYSE: RTX) has reported first quarter 2024 sales of $19.3 billion, a 12 percent increase from the prior-year period, and posted GAAP earnings per share of $1.28, up 32 percent compared to the previous year. In an earnings statement published Tuesday, RTX said it recorded $1.3 billion in gross proceeds from the divestiture of