Lockheed Martin Corp. has strengthened its position in advanced optical systems with a new asset, Sarasota, Fla.-based Gyrocam Systems.
Gyrocam develops and supplies gyrostabilized optical surveillance systems and sustainment field services, principally to the U.S. military. July 31, it announced an an order from the U.S. Marine Corps Systems Command related to its Expeditionary Fly Away Camera System.
“Gyrocam’s technologies enhance Lockheed Martin’s ability to offer affordable solutions that address increasingly complex global security challenges,” said Lockheed Chairman, President and CEO Robert J. Stevens. “This transaction is consistent with our focus on acquisitions that strengthen our capabilities, address customer priorities and drive top- and bottom-line growth.”
Lockheed Martin Missiles and Fire Control, a unit of Lockheed Martin’s Electronic Systems business area, will manage the Gyrocam business. Missiles and Fire Control has major facilities in Dallas, Texas, and Orlando, Fla.
The acquisition was originally announced July 22, 2009. Transaction terms were not disclosed.