Lockheed Martin buys Daresbury’s Amor Group

US defence group Lockheed Martin has bought the Amor Group, a technology company with a base at Sci-Tech Daresbury.

Lockheed, which did not disclose the terms of the deal, said the move would help it to move into non-defence markets and expand internationally.

Glasgow-headquartered Amor sells business technology services to the energy, transport and public sectors.

It has revenues of around £45m and 500 staff based in offices in Daresbury, Coventry, Aberdeen, Edinburgh and London. The deal marks an exit for Amor’s previous funders – Growth Capital Partners, Sword Group and Scottish Enterprise.

Chief executive John Innes said: “We were at the stage in our life cycle where we were looking at refinancing to support our growth ambitions as well as allow our private equity partners to exit in line with their original investment plans.

“The opportunity to become a part of Lockheed Martin is fantastic, not least because of the remarkable synergies between our cultures and ambitions. They offer a strong platform for growth in terms of talent, clients, geographic footprint, offerings and investment. It’s a perfect fit at the right time.”

Lockheed chief executive Marillyn Hewson said: “The strategic acquisition of Amor Group is aligned with our strategy for Lockheed Martin International and expands our capabilities and expertise in international information technology, civil government services and the energy market.”

Lockheed and other big arms makers are looking to increase international sales to offset cutbacks in US military spending.