Lockheed Martin will acquire Sikorsky, the maker of the Black Hawk helicopters, for $US 9 billion, one of its biggest ever purchases.
The BBC and others report that the aerospace giant will buy the world’s biggest maker of helicopters from United Technologies, with United to use the money to buy back shares.
Sikorsky will join Lockheed’s Mission Systems and Training (MST) division.
Marillyn Hewson, the CEO and chair of Lockheed, said Sikorsky was a natural fit for the company’s portfolio.
“I’m confident this acquisition will help us extend our core business into the growing areas of helicopter production and sustainment,“ said Hewson in a statement.
"Together, we’ll offer a strong portfolio of helicopter solutions to our global customers and accelerate the pace of innovation and new technology development.”
Australian Aviation points out that Sikorsky and Lockheed already cooperate on the MH-60R Seahawk Romeo – 24 of which are being delivered to the Royal Australian Navy.
Lockheed, the maker of the F-35, is the biggest of Pentagon’s top 5 suppliers.
According to Time, it won $US 25.3 billion in contracts last year, followed by Boeing, General Dynamics, Raytheon and Northrop Grumman.