Lockheed Martin is about to become an even bigger player in the defense industry, thanks to its acquisition of helicopter manufacturer Sikorsky. The $9-billion deal was announced today by Sikorsky's former parent company, United Technologies Corporation, IHS Jane's 360 reports.
According to that report, the total price paid by LM will be substantially less than $9 billion, thanks to some tax benefits related to the deal. The two sides are expected to close the deal later this year or early next year.
Sikorsky's best known products include the US military's go-to helo, the UH-60 Black Hawk, its derivatives, and the CH-53 Sea Stallion, while Lockheed Martin has its fingers in so many pies it's difficult to keep track. The corporate giant builds everything from ships to aircraft to missiles to vehicles for all branches of the military. It's most often been in the headlines for the controversial littoral combat ship and F-35 joint strike fighter. LM has previously teamed with Sikorsky rival Bell Helicopters.