Lockheed Martin to acquire Ultra Maritime for $3.45 billion
Business
Advent International announced that Lockheed Martin is picking up Ultra Maritime, a company known for its anti-submarine tech and naval defense gear, for $3.45 billion.
This move adds even more muscle to Lockheed's lineup, which already includes big names like the F-35 fighter jet and Patriot missile systems.
Record $2.89 trillion global military spending
This deal isn't random: Global military spending hit a record $2.89 trillion last year thanks to ongoing conflicts like the war in Ukraine and tensions in the Middle East.
With European countries ramping up their defense budgets, there's a bigger push than ever for advanced military tech, especially in areas like anti-submarine warfare.