The Globe and Mail reports in its Monday, Nov. 2, edition that Lockheed Martin has acquired Nova Scotia-based undersea defence company Ultra Maritime for $3.45-billion. A Canadian Press dispatch to The Globe reports that Lockheed Martin completed its acquisition of Ultra Maritime last week after the two companies signed a deal in July. Lockheed Martin says it had been an investor in Ultra Maritime since 2022. Based in Dartmouth and founded in 1947 as Cossar (Canada) Ltd., Ultra Maritime specializes in advanced undersea and anti-submarine warfare. The company manufactures sonar solutions, sonobuoys and torpedo defence systems to detect and track submarine threats for allied navies in more than 30 countries, including Canada and the U.S. Ultra Maritime says it employs about 2,000 people in five countries, and as of last year, the federal government said the company employed more than 250 people in Dartmouth. Lockheed Martin's president of Rotary and Mission Systems, Stephanie Hill, says the acquisition of Ultra Maritime will allow it to meet the growing demand for undersea warfare capability worldwide. The announcement comes after a recent surge in investment in defence and shipbuilding in Nova Scotia.