00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Lockheed Martin said, Monday it will buy naval defense group Ultra Maritime for $3.45 billion,
00:09according to CNBC. CNBC reported earlier that Lockheed was leading the race to buy Ultra for
00:15roughly $3.5 billion, with Guggenheim and J.P. Morgan advising on the sell side.
00:20Ultra is owned by Advent International and specializes in anti-submarine technology.
00:25The company makes radar and electronic warfare systems, as well as torpedo defense countermeasures.
00:31Lockheed Martin is a major defense company that makes aircraft and weapons systems,
00:35including the F-35 fighter jet and Patriot missile. Defense stocks have rallied in 2026,
00:42as conflicts from Ukraine to Iran increased demand for munitions worldwide.
00:46Global defense spending rose to $2.89 trillion in 2025, driven by increased spending in Europe.
00:53For all things money, visit Benzinga.com.
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