Lockheed Martin has entered into a definitive agreement to acquire Sikorsky Aircraft for $US9 billion. The price is reduced to approximately $US97.1 billion after taking into account tax benefits resulting from the transaction.

“Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defence products and technologies,” says Marillyn Hewson, Lockheed Martin chairman, president and ceo. “I'm confident this acquisition will help us extend our core business into the growing areas of helicopter production and sustainment. Together, we'll offer a strong portfolio of helicopter solutions to our global customers and accelerate the pace of innovation and new technology development.”