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.

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