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Lockheed completes buyout of IT firm

Lockheed completes buyout of IT firm

BETHESDA, Md. (AFX) – Defense firm Lockheed Martin Corp. said Thursday it completed its acquisition of Fairfax, Va.-based technology services provider Management Systems Designer Inc.
The company did not disclose financial terms of the deal, which was announced in December.
MSD provides technology services including systems engineering, applied software and specialized health and computational biology services to various federal agencies including the National Institute of Health, Internal Revenue Service and Department of Defense.
MDS will be folded into Lockheed’s Integrated Systems & Solutions Area.
Shares of Lockheed Martin gained $1.04 to $98.23 in afternoon trading on the New York Stock Exchange.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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