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© filipefrazao84 dreamstime.com_ Electronics Production | July 20, 2015

Lockheed looking to spin-off its IT businesses

Lockheed Martin recently announced that it intends to acquire Sikorsky Aircraft – however, the company is at the same time announcing that it will conduct a strategic review of alternatives for its IT and technical services businesses.
Lockheed Martin will conduct a strategic review of alternatives for its government IT and technical services businesses, primarily in the Information Systems & Global Solutions business segment and a portion of the Missiles and Fire Control business segment. The programs to be reviewed represent roughly USD 6 billion in estimated 2015 annual sales and more than 17'000 employees.

“As global security market dynamics shift, this review will strengthen our competitive posture, enabling sustained, profitable growth and positioning Lockheed Martin to deliver value for customers, shareholders and employees,” said Marillyn Hewson, Lockheed Martin chairman, president and CEO.

Lockheed Martin is an established IT and technical services provider around the globe. However, following recent shifts in market dynamics, Lockheed Martin will explore whether the businesses can achieve greater growth and create more value for customers and shareholders outside of the Corporation. The strategic review is expected to result in a spin-off to Lockheed Martin shareholders or sale of these components.

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