- CNBC previously reported that Lockheed Martin was leading the race to purchase Ultra.
- Ultra is owned by private equity firm Advent International, and specializes in anti-submarine technology.
Lockheed Martin Corp. signage on the floor at the New York Stock Exchange (NYSE) in New York, US, on Monday, March 9, 2026.
Michael Nagle | Bloomberg | Getty Images
Defense heavyweight Lockheed Martin said Monday it will buy naval defense group Ultra Maritime for $3.45 billion
CNBC reported earlier in the day that Lockheed Martin was leading the race to buy Ultra forroughly $3.5 billion, and that Guggenheim and JPMorgan were advising on the sell side
“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 disclose its financial advisers. Lockheed Martin said in a separate statement that Citi served as a financial adviser
Ultra is owned by private equity firm Advent International, and specializes in anti-submarine technology. The company makes radar and electronic warfare systems, as well as torpedo defense countermeasures
After the deal closes, Ultra’s team will become part of Lockheed Martin’s Rotary and Mission Systems business area
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
