Reuters Summit-Lockheed CEO eyes acquisitions in 2010

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Mon Dec 14, 2009 5:34pm GMT

(For other news from the Reuters Aerospace and Defense Summit, click here)

WASHINGTON Dec 14 (Reuters) - Lockheed Martin Corp (LMT.N) will likely make more acquisitions in 2010, focusing on areas such as cyber security, energy security, logistics support and intelligence surveillance, the company's chief executive said on Monday.

Speaking at the Reuters Aerospace and Defense Summit in Washington, Robert Stevens said the company also had continued interest in healthcare information technology.

"If we found an acquisition candidate that gave us some advantage, in our judgment, where there was a good cultural fit, a good operational fit, a good strategic fit as well as economic value, that's the template we'll follow," he said.

Stevens also said valuations in the sectors Lockheed is interested in remained "too high," resulting in lower dealmaking activity than expected in 2009.

He said he did not expect consolidation among large defense suppliers in 2010.

(For summit blog: blogs.reuters.com/summits/)

(Reporting by Jui Chakravorty; Editing by John Wallace)

((Reuters Messaging: jui.chakravorty.reuters.com@reuters.net; +1 646-842-0854)) Keywords: AERO ARMS SUMMIT/LOCKHEED DEALS

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