Lockheed Martin announced on 6 July a definitive agreement to acquire Ultra Maritime, a specialist in undersea and anti-submarine warfare systems, for $3.45bn from Advent-owned Cobham Ultra.
Why Lockheed Martin Corporation is buying Ultra Maritime
Lockheed said Ultra Maritime's international footprint and exportable products, including sonobuoys, towed sonar arrays and hull-mounted sonar, would complement and expand its sonar offering across next-generation maritime platforms.
“Undersea superiority belongs to those who move fastest and work together best”
Deal terms and financing
The price is $3.45bn. Ultra Maritime will become part of Lockheed's Rotary and Mission Systems business area, which reported 2025 revenue of $17.3bn, according to Reuters.
Regulatory approvals and timing
Lockheed did not give a closing date; the deal remained pending as of mid-October 2026.
Market context
Advent formed Cobham Ultra after buying Cobham in 2020 and Ultra Electronics in 2022. Ultra Maritime has US manufacturing sites in Columbia City and Braintree, plus plants in the UK, Canada and Australia. Demand for naval systems has risen with the wars in Ukraine and the Middle East and a proposed $1.5tn US defence budget for 2027.
