Lockheed Martin Snaps Up CDL Assets

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On Friday, Lockheed Martin (NYSE: LMT  ) announced that it has purchased "substantially all" the assets of unmanned vehicle control software maker CDL Systems. Financial terms of the deal were not disclosed, but in a statement, Lockheed noted that the deal is so small the cost will not be "material."

CDL, based in Calgary, is the developer of an open, standards-based, and commercial off-the-shelf software product said to be used in "numerous" unmanned vehicle platforms. Lockheed says it intends to incorporate CDL into its new Mission Systems and Training business.

Lockheed shares closed at $93.13 for the day, up 0.7%, before the CDL deal was announced.

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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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11/25/2015 4:01 PM
LMT $225.80 Down -0.63 -0.28%
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