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Lockheed Martin Enters Into Definitive Agreement to Sell Its PAE Business to Lindsay Goldberg, LLC

BETHESDA, Md. Feb. 22, 2011 Lindsay Goldberg

Robert J. Stevens Lindsay Goldberg

Since acquiring PAE in 2006, the Corporation has strengthened its leadership team, established new business management processes and enhanced the focus on performance excellence.  The Corporation’s decision last June to divest this business was based on its assessment that the markets PAE serves had evolved in ways that were inconsistent with the Corporation’s long term strategy.

The closing of the transaction is subject to customary closing conditions.  It is expected that the transaction will close in the second quarter of 2011.  Terms of the transaction will not be disclosed and are not expected to have a material effect on Lockheed Martin.

Bethesda, Md. $45.8 billion

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SOURCE Lockheed Martin

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