Lockheed Martin Corporation
(NYSE: LMT) has acquired the government business unit of Nantero, Inc.
("Nantero"). Nantero is a privately-held, Massachusetts-based company that
has developed methods and processes for incorporating carbon nanotubes in
next-generation electronic devices. Additionally, Lockheed Martin has
entered an exclusive license arrangement with Nantero for government
applications of Nantero's extensive intellectual property portfolio.
Approximately 30 employees will join Lockheed Martin as part of the
purchase of Nantero's government business unit.
Nantero has successfully produced carbon nanotube devices in a
commercial semiconductor fabrication process. The company's government
business unit is developing nanotechnology-enabled devices (e.g., memory,
logic and sensors) for use in a variety of military and intelligence
applications. Terms of the transaction were not disclosed.
Lockheed Martin's Advanced Technology Center, a unit of Lockheed Martin
Space Systems Company, will manage the Nantero unit. "Lockheed Martin is
already a leader in the research, development and application of
nanotechnology to future military and intelligence applications," said
Joanne Maguire, Executive Vice President of Lockheed Martin's Space Systems
Business Area. "This transaction represents a solid strategic fit. It
provides an important set of capabilities and will accelerate our product
applications, enabling us to offer a broader portfolio of solutions to our
customers, and to enhance shareholder value."
Greg Schmergel, Nantero's Co-founder and CEO, said, "We are proud of
the success our government business unit has had, which will now be even
greater as part of Lockheed Martin. This transaction provides Nantero with
increased resources and strategic focus to achieve our goals in the
commercial memory space."
Dr. Brent Segal, Nantero's Co-founder and Chief Operating Officer, who
will be joining Lockheed Martin, said "We are very pleased to join Lockheed
Martin and look forward to applying our carbon nanotube technologies to a
broader array of programs and customer requirements. This will enhance
capabilities for our customers and provide exciting opportunities for our
exceptionally talented employees."
Lockheed Martin recognizes the critical importance of nanotechnology to
its current and future portfolio of products and services. Direct benefits
of nanotechnology for government customers could include stronger, lighter
and less expensive materials; more capable systems; and enhanced personal
protection for military and first responders. Through partnerships with
small businesses and universities, Lockheed Martin is leveraging its own
investment in nanotechnology to develop innovative solutions for the most
demanding technological challenges.
Headquartered in Bethesda, MD, Lockheed Martin is a global security
company that employs about 140,000 people worldwide and is principally
engaged in the research, design, development, manufacture, integration and
sustainment of advanced technology systems, products and services. The
corporation reported 2007 sales of $41.9 billion.
SOURCE Lockheed Martin Corporation
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