Lockheed Martin Snaps Up CDL Assets
On Friday, Lockheed Martinannounced that it has purchased "substantially all" the assets of unmanned vehicle control software maker CDL Systems. Financial terms of the deal were not disclosed, but in a statement, Lockheed noted that the deal is so small the cost will not be "material."
CDL, based in Calgary, is the developer of an open, standards-based, and commercial off-the-shelf software product said to be used in "numerous" unmanned vehicle platforms. Lockheed says it intends to incorporate CDL into its new Mission Systems and Training business.
Lockheed shares closed at $93.13 for the day, up 0.7%, before the CDL deal was announced.
The article Lockheed Martin Snaps Up CDL Assets originally appeared on Fool.com.Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.