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Lockheed Martin Acquires Aspen Systems

Defense contractor Lockheed Martin plans to acquire Aspen Systems Corp. in a move to beef up its IT and Web design support.
Defense contractor Lockheed Martin said Friday it plans to acquire Aspen Systems Corp. in a move to beef up its IT and Web design support.

“The acquisition of Aspen Systems further strengthens (Lockhead's) Systems and IT offerings and allows us to provide a broader array of diversified services to our expanding customer base,” said Bob Stevens, Lockheed Martin chairman, president, and chief executive officer, in a statement.

Financial terms of the deal were not disclosed, although it was noted that employee-owned Aspen Systems revenue in 2004 was $165 million. Lockheed Martin will manage Aspen Systems through its Lockheed Martin Information Technology unit.

The acquisition underscores Lockheed Martin’s continued move into non-weapons government work. Aspen Systems carries out significant work for the Justice Department and the Department of Health and Human Services.

Lockheed Martin is engaged in research, design, development, manufacture, and integration of advanced technology solutions, many of them defense-related. The firm had more than $35 billion in sales in 2004 and employs about 135,000 persons.