Lockheed Martin strengthens unmanned aerial systems, surveillance, reconnaissance portfolio with Procerus Technologies acquisition

BETHESDA, Md., 18 Jan. 2012. Lockheed Martin (NYSE:LMT) is acquiring Procerus Technologies, maker of autopilot, targeting, and payload technologies for micro unmanned aerial vehicles (UAVs) based in Orem, Utah. Procerus customers include domestic and international governments, as well as industry and academic institutions. The company’s Kestrel autopilot system, among the smallest and lightest full-featured micro autopilot system, is well suited for surveillance and reconnaissance applications.

Lockheed Martin Mission Systems and Sensors (MS2) officials will manage the Procerus business. MS2, in Washington, D.C., and part of the corporation's Electronic Systems business area, has experience with the Desert Hawk, Persistent Threat Detection System aerostats, K-MAX unmanned helicopter system, and high-altitude airship programs.

"This acquisition is consistent with our focus on acquiring capabilities that enhance our product portfolio and align with our customers' strategic priorities," explains Bob Stevens, Lockheed Martin Chairman and CEO. "Small unmanned aerial vehicles are low-cost, highly effective tools for our military, and the expertise Procerus brings will enhance the value we offer to our customers."

"Our purpose is to bring innovative and meaningful technologies to this critical capability for the military and future customers," adds Todd Titensor, chief executive officer, Procerus Technologies. "Becoming a part of Lockheed Martin will allow us to advance these goals and accelerate our ability to reach them more quickly."

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