Lockheed Martin announced on July 6, 2026, its agreement to acquire Ultra Maritime, a global defense company specializing in advanced undersea warfare and anti-submarine warfare (ASW) capabilities. The deal for the company, owned by private-equity firm Advent International, is valued at $3.45 billion and will see Ultra Maritime become part of Lockheed Martin's Rotary and Mission Systems business area upon closing.
Ultra Maritime develops critical systems including sonar technologies, sonobuoys, torpedo defense systems, radar solutions, and autonomous maritime sensing platforms. Its international footprint and exportable ASW products, such as sonobuoys, towed sonar arrays, and hull-mounted sonar product lines, are expected to complement and expand Lockheed Martin's sonar solutions for next-generation maritime platforms. This acquisition reinforces Lockheed Martin's strategic focus on undersea warfare expertise, a sector gaining importance amid heightened global geopolitical tensions and increased defense spending.
Advent International had assembled the Cobham Ultra portfolio through two major transactions: the £4 billion take-private of British defense group Cobham in 2019, and the £2.6 billion acquisition of Ultra Electronics in 2022. Ultra Maritime, which specializes in anti-submarine warfare, represents a technologically differentiated part of this portfolio, with its buoys designed to detect torpedoes and submarines used by both the U.S. Navy and Britain's Royal Navy. Advent had invested approximately $170 million in product development over the past three years, leading to projected revenue of $784 million in 2026, up from $494 million in 2023.
The potential acquisition by Lockheed Martin had been a subject of competitive bidding, with several bidders reportedly interested. However, Lockheed Martin emerged as the frontrunner. The deal carries potential regulatory risks, particularly concerning the UK National Security and Investment Act, given Ultra Maritime's UK origins and its role as a Royal Navy supplier. Investors will also be keen to understand the financial implications, including how Lockheed intends to finance the acquisition and its impact on capital allocation priorities like share buybacks or dividends.
