Key facts
- Lockheed Martin is reportedly leading the race to acquire Ultra Maritime.
- Ultra Maritime is a naval defense business.
- Ultra Maritime is owned by private-equity firm Advent International.
- The deal could value Ultra Maritime at approximately $3.5 billion.
- Other bidders remain interested in the company.
- Ultra Maritime specializes in sonar and other naval systems.
- Advent International acquired Ultra Maritime in 2017.
- Investment bank JP Morgan is managing the sale process.
- The outcome of the auction is expected in the coming weeks.
Lockheed Martin is reportedly in the lead to acquire Ultra Maritime, a naval defense business currently owned by private-equity firm Advent International. The potential acquisition could value Ultra Maritime at approximately $3.5 billion. The process is described as a competitive auction, with other bidders still showing interest in the company. Ultra Maritime is known for its expertise in sonar technology and other systems crucial for naval operations. Advent International acquired Ultra Maritime in 2017. The sale process is being managed by investment bank JP Morgan. The outcome of the auction is expected in the coming weeks.