BETHESDA, Md., June 30, 2014 /PRNewswire/ -- Lockheed Martin [NYSE: LMT] has entered into a definitive agreement to acquire Zeta Associates, Inc., a leader in the systems that enable efficient collection, processing, safeguarding and dissemination of critical information for intelligence and defense communities. The terms of the agreement were not disclosed and are not material to Lockheed Martin.

Subject to the satisfaction of customary closing conditions, the transaction is expected to close in the third quarter of 2014. Upon closing, Zeta Associates will be a wholly-owned subsidiary of Lockheed Martin reporting through the corporation's Space Systems business area.

"Zeta Associates' expertise in cross-platform information collection, analysis and dissemination is an ideal complement to our national security capabilities," said Marillyn Hewson, Lockheed Martin Chairman, President and CEO. "Adding Zeta to our diverse portfolio strengthens our ability to deliver vital ground, air and space-based intelligence in support of our customers' most essential missions."

Founded in 1984, Zeta Associates specializes in technology that powers critical national security missions. Their highly-skilled workforce focuses on leading-edge software, communications and ground systems innovation to solve complex mission challenges.

"Zeta Associates has built its success on innovation and customer focus, and we're pleased to be joining a company that shares those same priorities," said John Nelson, President and CEO of Zeta Associates. "By joining Lockheed Martin we'll gain access to an unmatched portfolio of technology and expertise that will help us better address a broader array of our customers' critical missions."

Zeta Associates has about 350 employees, which are based in their Fairfax, Virginia, headquarters, as well as Denver, Colorado, and at customer locations.

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2013 were $45.4 billion.

For additional information, visit our website: http://www.lockheedmartin.com

Lockheed Martin Forward-Looking Statements:

Statements in this release about future actions and the consequences of these actions are "forward-looking statements" and are based on Lockheed Martin's current expectations and assumptions. Forward-looking statements in this release include, but are not limited to, the potential for growth as result of the transaction. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Potential risks and uncertainties include, but are not limited to: the failure to obtain shareholder approval of the transaction, the failure to obtain, delays in obtaining or adverse conditions contained in any required regulatory or other approvals, the failure to consummate or a delay in consummating the transaction for other reasons, changes in laws or regulations, changes in general economic conditions, our ability to successfully integrate the business and generate synergies, the ability to attract and retain a skilled workforce in an uncertain funding environment, as well as other risks and uncertainties described from time to time in Lockheed Martin's Form 10-K (including under the caption "Risk Factors") and other filings with the Securities and Exchange Commission. All information in this release is as of June 30, 2014. Lockheed Martin disclaims any duty to update forward-looking statements to reflect subsequent events, actual results or changes in expectations. For further information regarding risks and uncertainties associated with Lockheed Martin's business, please refer to the Corporation's SEC filings, which may be obtained at the Corporation's website: http://www.lockheedmartin.com or through the website maintained by the SEC at www.sec.gov.

SOURCE Lockheed Martin