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Lockheed Martin Acquires Chandler/May, Inc.

BETHESDA, Md., Nov. 13, 2012 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) today announced the acquisition of Chandler/May, Inc., a company that specializes in the design, development, integration, manufacturing, and support of fully integrated mission critical systems for  unmanned aerial systems (UAS) and Command, Control, Communications, Computers, Intelligence, Surveillance, Reconnaissance (C4ISR) missions. Terms of the agreement were not disclosed and are not material to Lockheed Martin's results of operations.

As a proven ground control station integrator, Chandler/May, Inc. has delivered hundreds of integrated command and control shelters and portable ground control stations in support of U.S. Army UAS programs. They have produced more than 2,200 unmanned aerial vehicles (UAVs), including the Desert Hawk UAV, a program for which Chandler/May, Inc. is a supplier to Lockheed Martin. Chandler/May, Inc. has also developed a fully integrated UAS, consisting of the Fury® UAV, SharkFin® Mission & Flight Control System and Tactical Air Vehicle Control System (TACS) ground control station. Chandler/May, Inc. has facilities in Huntsville, Ala, and San Luis Obispo, Calif.

"This acquisition expands our offerings in support of our customers' increased emphasis on advanced unmanned systems for the C4ISR missions," said Bob Stevens, Lockheed Martin Chairman and CEO. "This acquisition is consistent with our goal to maintain a portfolio of technologically advanced options that will generate value for both our customers and our shareholders."

"At Chandler/May, we have developed a highly talented workforce and created a portfolio of innovative products supporting our defense and intelligence customers," said Jesse May, Chandler/May, Inc. President.  "Joining Lockheed Martin is a logical step to expand our current offerings and provides opportunities to reach additional customers."

Chandler/May, Inc. will become part of Lockheed Martin's Mission Systems & Sensors (MS2) business. MS2 has experience in the area of unmanned systems including the K-MAX unmanned helicopter, Desert Hawk UAV, and Persistent Threat Detection System aerostats.

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