Lockheed Acquires Eagle Group

29 April 2008 (Last Updated April 29th, 2008 10:39)

Lockheed Martin says it has agreed to acquire Eagle Group International Corporation, a provider of logistics, information technology, training and healthcare services to the US Department of Defense. Lockheed says Eagle Group has a reputation for outstanding support of its customers' cr

Lockheed Martin says it has agreed to acquire Eagle Group International Corporation, a provider of logistics, information technology, training and healthcare services to the US Department of Defense.

Lockheed says Eagle Group has a reputation for outstanding support of its customers' critical missions and proven capabilities in military readiness and integrated logistics, healthcare programme management and outsourcing, information technology and training services.

Lockheed President and CEO Bob Stevens says the acquisition of Eagle Group extends the company's logistics and business process sourcing capabilities, and will strengthen relationships with several key army customers.

All obligations associated with Eagle Group's US Department of Labor Potomac Job Corps Contract is excluded from the agreement.

Financial details of the deal have not been disclosed.

The transaction is subject to government approvals, including a review under the Hart-Scott-Rodino Antitrust Improvements Act and satisfaction of certain closing conditions.

The deal is expected to become final in the second quarter of 2008.

By Elizabeth Clifford-Marsh