October 6, 2014 / 10:15 AM / 4 years ago

Lockheed Martin in research deal with Israel tech company Yissum

Chief Executive Officer and President of Lockheed Martin Corporation Marillyn A. Hewson speaks at a news conference in London, July 1, 2013. REUTERS/Neil Hall

TEL AVIV (Reuters) - Lockheed Martin agreed to conduct joint research with Yissum, the technology transfer company of the Hebrew University of Jerusalem, and has the option to purchase exclusive licenses to products resulting from their research.

The research will focus on material sciences, quantum information science - which combines information science with quantum mechanics - and other areas of joint interest, the companies said on Monday. They did not provide financial details.

“This is another step in Lockheed Martin Israel’s long-term plans to develop additional partnerships outside the defense market and partner with the industry and academia in Israel,” said Joshua Shani, chief executive of Lockheed Martin Israel.

Lockheed Martin in August set up a separate subsidiary in Israel focused on technology. It is working with EMC and Ben-Gurion University in southern Israel on joint cyber security research projects.

Reporting by Tova Cohen; Editing by Jeffrey Heller

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