Lockheed Martin Corp. has entered into a definitive agreement to acquire Sikorsky Aircraft Corp. for $9.0 billion.
The purchase price is effectively $7.1 billion, after factoring in account tax benefits resulting from the transaction, according to Lockheed Martin.
United Technologies Corp. of Hartford, Conn. in June said it was considering selling Sikorsky.
“Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defense products and technologies,” said Marillyn Hewson, chairman, president and CEO of Lockheed Martin Corp., a global security and aerospace firm whose Lockheed Martin Aerospace Co., its aeronautics segment, operates in west Fort Worth.
Whether the deal affects Fort Worth employment or Sikorsky internal operations has not been determined, according to Lockheed Martin spokesman Dan Nelson.
The company plans to review all Sikorsky operations to identify ways to improve efficiency and affordability. “But it’s too early in the process,” Nelson said.
Sikorsky, headquartered in Stratford, Conn., manufactures Black Hawk and presidential helicopters. Fort Worth serves as home to one of its engineering and design centers.
The acquisition is subject to regulatory approvals and is expected to close by late fourth quarter 2015 or early first quarter 2016.
More information on the acquisition is available at www.lockheedmartin.com/sikorsky.