[October 17, 2010] Lockheed Martin Agrees to Sell Its EIG Business to Veritas Capital Tweet Oct 16, 2010 (Close-Up Media via COMTEX) -- Lockheed Martin Corporation announced that it has entered into a definitive agreement to sell its Enterprise Integration Group business to Veritas Capital for $815 million in cash. According to a release, as announced on June 2, the Corporation's plan to divest EIG is based on the U.S. Government's increased concerns about perceived organizational conflicts of interest. EIG provides system engineering services, architecture, and integration services and support to a broad range of government customers. "The decision to divest EIG followed a comprehensive review of our portfolio to find ways to continuously provide the best, most affordable solutions for our customers, a secure future for our employees and value for our shareholders," said Lockheed Martin Chairman and CEO Robert Stevens. "EIG and its employees continuously demonstrate tremendous capability and serve the nation with dedication, diligence and honor. I am confident that the company and its employees will continue to thrive under the management of Veritas." The closing of the transaction is subject to review under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. It is expected that the transaction will close by the end of this year. Lockheed Martin is a security company. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]