BETHESDA, Md., June 18, 2014 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) has entered into a definitive agreement to acquire Deposition Sciences, Inc. (DSI), a provider of thin film coatings.
Subject to the satisfaction of customary closing conditions, the acquisition is expected to close within 30 days. The terms of the agreement were not disclosed and are not material to Lockheed Martin operations. DSI will be integrated into the Aeronautics business area.
Located in Santa Rosa, California, DSI has approximately 85 employees and is a 100 percent owned subsidiary of Advanced Lighting Technologies, Inc. (ADLT). The company uses various deposition technologies and processes to produce thin film coatings for a variety of industrial applications.
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation's net sales for 2013 were $45.4 billion.
Statements in this release about future actions and the consequences of these actions are "forward-looking statements" and are based on Lockheed Martin's current expectations and assumptions. Forward-looking statements in this release include, but are not limited to, statements regarding the potential acquisition. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Potential risks and uncertainties include, but are not limited to: our ability to obtain required approvals and to successfully complete the acquisition, our ability to integrate the business and generate synergies, the ability to attract and retain a skilled workforce in an uncertain funding environment, as well as other risks and uncertainties described from time to time in Lockheed Martin's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q (including under the caption "Risk Factors") and other filings with the Securities and Exchange Commission. All information in this release is as of June 18, 2014. Lockheed Martin disclaims any duty to update forward-looking statements to reflect subsequent events, actual results or changes in expectations. For further information regarding risks and uncertainties associated with Lockheed Martin's business, please refer to the Corporation's SEC filings, which may be obtained at the Corporation's website: http://www.lockheedmartin.com.