Defense giant Lockheed-Martin plans to open a major subsidiary in Israel that will employ hundreds of people, while simultaneously looking to purchase Israeli companies and integrate itself into the Israeli economy, according to a Sunday report.

Lockheed-Martin announced earlier this year that it intended to open a facility in Israel specializing in information technology, but, according to Executive Vice President Patrick Dewar, work is to begin immediately on expanding that project into a full-fledged subsidiary of the tech defense giant, Maariv reported.

Dewar, who is currently visiting Israel, said over the weekend that the company, in addition to building a branch for IT and cyber protection, will seek to expand cooperation with Israeli defense companies and to work in the domestic security market.