Lockheed Martin will buy United Technologies Corp’s Sikorsky Aircraft for over $8 billion, Reuters news agency is reporting.
The deal will add further heft to Lockheed, which already has annual revenues of around $45 billion and dwarves its nearest competitors, the defense business of Boeing and Northrop Grumman Corp, Reuters wrote in its article. “It will make Lockheed less reliant on the $391 billion F-35 fighter jet business, while expanding its overseas sales by adding Sikorsky’s iconic Black Hawk helicopters to a product line that already spans everything from satellites to naval ships,” the news agency wrote.
