Lockheed Martin will acquire Gyrocam Systems, a developer of gyrostabalised optical surveillance systems and sustainment field services for the US military.
Gyrocam's intelligence, surveillance and reconnaissance products are primarily used in ground vehicles to provide combat forces with greater situational awareness through real-time reconnaissance and threat identification and tracking from safe, stand-off distances.
Lockheed Martin Missiles and Fire Control, a unit of Lockheed Martin's Electronic Systems, will manage the Gyrocam business.
Gyrocam is headquartered in Sarasota, Florida, US, with offices in Washington, DC, Iraq and Afghanistan.
Lockheed Martin chairman, president and CEO Robert J Stevens said that the acquisition of Gyrocam would enhance Lockheed Martin’s ability to address the US Government's emphasis on ISR capabilities and to meet urgent war-fighter needs.
The acquisition process is scheduled for completion in the third quarter of 2009.