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Lockheed Buys UK Defense Firm

The company expects to close the purchase of Insys Group later this year.
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A unit of defense contractor

Lockheed Martin

(LMT) - Get Lockheed Martin Corporation Report

agreed to acquire

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Insys Group

, a U.K.-based supplier of military communications systems, weapons systems and advanced analysis services.

Insys supplies products to the U.K.'s defense ministry, participating in an array of programs including advanced weapons and communications systems, missile defense and integrated biological detection systems.

Terms of the transaction weren't disclosed. Lockheed expects to close the purchase later this year.

Lockheed, based in Bethesda, Md., saw its shares rise 14 cents to $62.76.