Flight International online news 11:00 GMT: Lockheed Martin has entered into a definitive agreement to acquire Insys Group Limited, a UK-based supplier of military communications and weapons systems.
Formerly Hunting Engineering and headquartered in Ampthill, Bedfordshire, Insys is an established supplier to the Ministry of Defence, participating in a broad array of programmes including advanced weapons and communications systems, missile defence and integrated biological detection systems.
Lockheed Martin chairman, president and chief executive officer, Bob Stevens says: "The INSYS acquisition expands our commitment in the UK and aligns with our strategy of acquiring companies that supplement our competencies, offer access to new customers and provide appropriate financial returns to our shareholders."
ROSS BENTLEY / LONDON
Source: Flight International