Engineering news
Firm's products help oil and gas operators to protect production assets
US security and aerospace giant Lockheed Martin has bought UK information technology firm Amor Group for an undisclosed sum. Amor specialises in IT for the energy, transport and public services sectors and has seven facilities across the country.
The move will allow Lockheed Martin to extend its capabilities within the UK public sector. It said it will make the corporation a top 10 ICT player in the UK market.
Stephen Ball, chief executive of Lockheed Martin UK, said: “This transaction provides opportunities for Amor Group and Lockheed Martin to grow through innovative IT technology and key international markets. Amor will be an important addition to our Information Systems and Global Solutions business.”
Amor is a privately held company with more than 500 employees that was formed in 2009. Its headquarters are in Glasgow and outside of the UK it has a presence in 15 countries. The company's products help oil and gas operators to protect production assets. Its systems can also be found in airports.
The deal will more than double Lockheed Martin's Information Systems and Global Solutions business headcount in the UK to more than 1,000, and it is expected that this will grow by a further 200 by the end of the year.
John Innes, chief executive of the Amor Group, said that the opportunity to become part of Lockheed Martin is “fantastic”. “They offer a strong platform for growth in terms of talent, clients, geographic footprint, offerings and investment. It’s a perfect fit at the right time.”
He added: “We were at the stage in our lifecycle where we were looking at refinancing to support our growth ambitions as well as allow our private-equity partners to exit in line with their original investment plans.”
Lockheed Martin employs 116,000 people worldwide.