(By Balaseshan) Lockheed Martin Corp. (NYSE: LMT), a global security and aerospace company, said it has purchased substantially all of the assets of CDL Systems Ltd. for an undisclosed sum.
CDL Systems is a software engineering firm that specializes in the development and licensing of vehicle control station software for unmanned systems. Terms of the agreement are not material to Lockheed Martin.
CDL Systems was founded in 1992 in Calgary, Alberta, Canada, with offices in Calgary and Huntsville, Alabama. The company has developed an open, standards-based, and commercial off-the-shelf software product that has been integrated into numerous unmanned vehicle platforms.
CDL Systems' products are designed on low-cost, interoperable, and open architecture systems to support government and civil applications around the world, with more than one million hours of operational use.
As previously announced, Lockheed Martin will reorganize its Electronic Systems business area into two new business areas and create the MST and Missiles and Fire Control (MFC) business areas effective Dec. 31, 2012. The MST business area will have 19,000 employees and will be headquartered in Washington, D.C.
Lockheed Martin principally engages in the research, design, development, manufacture, integration, and sustainment of technology systems and products. It also provides a range of management, engineering, technical, scientific, logistic, and information services. It operates in four segments: Aeronautics, Electronic Systems, Information Systems & Global Solutions (IS&GS), and Space Systems.
LMT closed Friday's regular session up 0.68% at $93.13. The stock has been trading between $79.05 and $95.92 for the past 52 weeks.