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Lockheed Martin Acquires Autopilot System Maker

Wed, 01/18/2012 - 4:22am

BETHESDA, Md., (AP) — Defense contractor Lockheed Martin Corp. said Tuesday it acquired Procerus Technologies, which makes autopilot systems and other electronic systems used in very small unmanned aircraft.

The companies did not disclose terms of the purchase, but Lockheed Martin said they "are not material" to its results. Procerus is based in Orem, Utah, and its micro technologies are included in vehicles used by the U.S. and other governments.

Shares of Lockheed Martin rose 12 cents to close at $81.64.

 

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