Lockheed Buys Nanotech Unit

Defense contractor Lockheed Martin Corp. announced it has acquired the government business unit of privately held Nantero Inc., a Woburn, Mass.-based company that has developed methods and processes for incorporating carbon nanotubes in next-generation electronic devices. Terms of the deal were not disclosed.

About 30 employees will join Lockheed Martin as part of the purchase. Also as part of the deal, Lockheed has signed an exclusive license arrangement with Nantero for government applications of its intellectual property portfolio.

Nantero used a commercial semiconductor fabrication process to produce carbon nanotube devices. The unit Lockheed bought is developing nanotechnology-enabled devices (e.g., memory, logic and sensors) for use in a variety of military and intelligence applications.

Lockheed's Advanced Technology Center, a unit of Lockheed Martin Space Systems Co., will manage the Nantero unit. Dr. Brent Segal, Nantero co-founder and chief operating officer, will join Lockheed.

"This transaction provides Nantero with increased resources and strategic focus to achieve our goals in the commercial memory space," said Greg Schmergel, Nantero co-founder and CEO.

For more information, visit: www.lockheedmartin.com