Lockheed Martin Corporation announced it has entered into a definitive agreement to acquire Aerojet Rocketdyne Holdings, Inc for a total transaction value of $4.4 billion including the assumption of net cash.
Commenting on the acquisition, James Taiclet, Lockheed Martin president and CEO, said, “Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base and reduce costs for our customers and the American taxpayer. This transaction enhances Lockheed Martin’s support of critical U.S. and allied security missions and retains national leadership in space and hypersonic technology. We look forward to welcoming their talented team and expanding Lockheed Martin’s position as the leading provider of 21st century warfare solutions.”
With 2019 revenue of approximately $2 billion, nearly 5,000 employees, and 15 primary operations sites across the United States, Aerojet Rocketdyne is a world-recognized aerospace and defense rocket engine manufacturer. Aerojet Rocketdyne has deep customer relationships and significant demand for its innovative technologies.
The proposed acquisition adds substantial expertise in propulsion to Lockheed Martin’s portfolio, and expands on the solid foundation built by Lockheed Martin and Aerojet Rocketdyne over many years, Lockheed Martin said in a statement.
The transaction is expected to close in the second half of 2021 and is subject to the satisfaction of customary closing conditions, including regulatory approvals and approval by Aerojet Rocketdyne’s stockholders.
Headquartered in Bethesda, Maryland, U.S., Lockheed Martin Corporation is a global security and aerospace company that employs approximately 110,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
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