By Dean Seal
Lockheed Martin has agreed to buy Amentum's hardware and product business for $360 million in cash.
Amentum said Wednesday that selling its Rapid Solutions business is part of a strategy to strip down to a pure-play technology provider. It also helps the company chip away at debt on its balance sheet.
The business makes products, including communications and tactical systems, for national security objectives and accounts for about 1% of Amentum's annual revenue.
The deal is expected to close in the second half of the year and generate about $325 million for Amentum after taxes. Upon closure, about 230 employees will transition to Lockheed Martin.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 23, 2025 08:32 ET (12:32 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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