The Bundeskartellamt, Germany's competition authority, has granted approval for Lockheed Martin Corporation to acquire all shares of Ultra Electronics Inc. (USA), Ultra Electronics Maritime Systems Inc. (CAN), Ultra Electronics Australia Pty Ltd. (AUS), and Ultra Sonar Systems Ltd. (UK).

Lockheed Martin is a publicly traded, internationally active defense contractor focusing on defense and aerospace sectors. The companies being acquired are also engaged in the defense industry, specializing in systems for maritime and underwater warfare, particularly anti-submarine warfare.

The product portfolio of the Ultra Electronics group includes sonar buoys, hull-mounted sonars for surface ships, towed sonars, torpedo warhead sonars, torpedo defense systems, countermeasures, and radar systems for surface vessels.

Andreas Mundt, President of the Bundeskartellamt, stated that the activities of the involved companies are primarily outside Germany and Europe. Their product portfolios overlap only to a limited extent and largely complement each other. Furthermore, in areas where overlaps exist, there are strong competitors. Therefore, there are no competitive concerns regarding the merger.