Lockheed quietly absorbs document management vendor Formtek, expands user base

In a noticeably subdued move, Lockheed Martin has acquired document management vendor Formtek for an undisclosed amount.

Lockheed will create a new business area focusing on Formtek's Orion product and service offerings. the business will be absorbed into Lockheed's Integrated Business Solutions (IBS) division and led by Lockheed VP Dennis Scanlon.

To Formtek customers, Lockheed brings a wealth of training, implementation, project management and outsourcing services. Lockheed will also apply its vertical market knowledge to extend Formtek's according to Scanlon.

Lockheed gets out of this deal an expanded client base, including companies in financial services and insurance, healthcare, retail, process distribution, manufacturing and telecommunications.

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