BEONTRA is headquartered in Germany and its products are used to forecast air traffic capacity and demand for more than 40 airports across five different countries. Its products are also utilized for revenue planning as well as route and infrastructure development.
"BEONTRA's capabilities expand our business in commercial airport information technology solutions," said the president, chairman, and CEO of Lockheed Martin, Marillyn Hewson, in a statement. "Their experience with traffic, capacity and revenue planning combined with our existing portfolio of commercial aviation products and services positions Lockheed Martin to be a leader in this rapidly growing market."
In September of last year Lockheed Martin announced it had acquired United Kingdom-based Amor Group, which developed the Chroma Airport Suite, utilized by more than 75 airports across the globe to track the movements of 3 million aircraft and 700 million passengers each year. The company highlighted the acquisition of Amor by saying it "complements Lockheed Martin's work with the U.S. Federal Aviation Administration and several global customers."
In a post today on the company's website, BEONTRA CEO Christian Roth said the ambition behind the acquisition was to create "the world's first 'end-to-end platform' for air traffic, airport planning, management & optimization."
The financial terms of the acquisition of BEONTRA AG were not disclosed, but Lockheed said the terms were "not material to Lockheed Martin." The most recent annual report noted that Lockheed Martin made $269 million worth of acquisitions in 2013, primarily for the acquisition of Amor Group.
Patrick Morris has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.