Report: Potential Lockheed IT Buy Part Of Intl Expansion Strategy

LockheedLogoLockheed Martin is in talks to buy Australian information technology solutions company ASG as part of a strategy to diversify its international business, Washington Technology reports.

ASG turned down the defense contractor’s offer to buy all ASG shares at 68 cents per share, Nick Wakeman writes.

The company is also speaking with other potential buyers, Wakeman added, citing an ASG filing.

Lockheed started a push to diversify worldwide a few years ago and has continued to invest in companies in Australia, where it has about 400 employees, according to the report.

Lockheed acquired RLM Systems in 2007 and in 2010 won a $60 million-per year contract for an information technology systems project with the Australian Taxation Office.

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