Lockheed Martin Corp. signage is seen on the floor of the New York Stock Exchange in New York on Monday, March 9, 2026.
Michael Nagle | Bloomberg | Getty Images
Lockheed Martin announced Monday that it has agreed to acquire naval defense specialist Ultra Maritime in a deal valued at $3.45 billion.
Earlier in the day, CNBC reported that Lockheed Martin had emerged as the leading bidder for Ultra in a transaction worth roughly $3.5 billion, with Guggenheim and JPMorgan advising the seller.
“By joining forces with Ultra Maritime, we’re accelerating our commitment to deliver the most advanced undersea and anti-submarine warfare capabilities to our U.S. and allied partners across the globe,” said Stephanie C. Hill, president of Lockheed Martin Rotary and Mission Systems.
Advent International did not identify its financial advisers. Lockheed Martin said separately that Citi acted as its financial adviser on the transaction.
Ultra, currently owned by private equity firm Advent International, focuses on anti-submarine warfare technology. Its products include radar and electronic warfare systems, along with countermeasures designed to defend against torpedoes.
Once the acquisition is completed, Ultra’s workforce will be folded into Lockheed Martin’s Rotary and Mission Systems division.
A Financial Times report last week said that talks were still ongoing and a deal could be announced as early as this week.
Advent was reportedly put up for sale earlier in 2026 for more than 3 billion pounds, or $4 billion.
Lockheed Martin is one of the world’s largest defense firms, producing planes such as the F-35 Lightning II fighter jet and munitions like the Patriot air defense missile.
Defense stocks have enjoyed a bumper year in 2026, as conflicts from Ukraine to Iran increase demand for munitions worldwide.
In April, the Stockholm International Peace Research Institute said global defense outlays in 2025 climbed to a staggering $2.89 trillion, led by massive spending by European nations.
