Lockheed Martin Corporation

Canada News Releases

Lockheed Martin invests in Canadian technology Small and Medium Enterprise, Offset Market Exchange Inc.

TORONTO —  Canadian technology Small and Medium Enterprise (SME), Offset Market Exchange Inc., (OMX) is proud to announce it received $1.19M USD in support from the world’s largest government contractor, Lockheed Martin (NYSE: LMT) to drive the company’s technology expansion. This is OMX’s second investment from Lockheed Martin and builds on the success of the initial project that was funded in 2017. 

OMX, a leading supply chain analytics platform, manages socio-economic impacts. Building on the company’s initial success, this five-year project (which was approved as an "Investment Framework" ITB transaction in 2017) expands the product to track and report on future and past social and economic impacts from various program activities. It will enable the seamless roll up of data from multiple tiers in a supply chain, improve surveying and add economic multipliers to provide estimates for social impacts and impacts on GDP— for all over the world.

"We are appreciative of the long-standing support we have had from Lockheed Martin,” said Nicole Verkindt, OMX founder. "We are proud of our technical innovation in measuring economic impacts: direct and indirect jobs, CAPEX investment, contract amounts to small businesses, women-owned businesses, Aboriginal-owned businesses, and soon ESGs as well. I started OMX because I knew there was more we could be doing by leveraging technology to drive socio-economic impacts from procurements."

"Partnerships play a critical role in our dedicated efforts to enable innovation, STEM development and economic prosperity in Canada. Through our programs and vast supply chain, thousands of Canadian jobs are created and sustained, growing regional economies from coast to coast. This agreement signifies our commitment to investing in Canadian technology and businesses, as well as our company’s practice to leverage and continue to develop the most advanced supply chain management tool to source, manage and track economic impacts in countries where we operate," said Lorraine Ben, chief executive of Lockheed Martin Canada. " With this investment, OMX will continue to help Canadian SMEs prosper by adding a global dimension to its unique platform that will drive more Canadian sales and exports for decades to come."

About OMX
The OMX platform is a powerful technology to measure, track and report on socio economic impacts from supply chain activities. For more information, please contact media@theomx.com. Connect with us on social media:@offsetmarket, linkedin.com/company/omx
To see the BNN interview on this agreement click here: http://www.bnn.ca/video/niche-canadian-marketplace-gets-investment-from-lockheed-martin~1125556

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 110,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. For additional information, visit our website: www.lockheedmartin.com. Please follow @LMNews on Twitter for the latest announcements and news across the corporation.