September 1, 2009 (FinancialWire) — Lockheed Martin Corp. (NYSE: LMT) has completed its acquisition of Gyrocam Systems LLC, a firm that develops and supplies gyrostabilized optical surveillance systems and sustainment field services, primarily to the U.S. military.

Missiles and Fire Control, a unit of Lockheed Martin’s electronic systems business area, will manage the Gyrocam business. Missiles and Fire Control has major facilities in Dallas, Texas and Orlando, Florida.

The acquisition was originally reported July 22. Transaction terms are undisclosed, but are not material to Lockheed Martin, according to the company.

Bethesda, Maryland-based Lockheed Martin is a defense company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

The corporation reported 2008 sales of $42.7 billion.

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