The story
Fairchild Weston Systems was acquired by Loral Corporation in mid-1989. The group was renamed as the Loral Fairchild Systems divisions of Loral Corp.
On 22 April 1996, Lockheed Martin completed the acquisition of Loral Corporation's defense electronics and system integration businesses, which included Fairchild, for $9.1 billion. The company became Lockheed Fairchild Systems.
In 2000, Lockheed Martin grouped Fairchild with Sanders Associates and Lockheed Martin Space Electronics & Communications under the Lockheed Martin Aerospace Electronic Systems division. BAE Systems agreed to acquire the division in July 2000 and completed its acquisition on 27 November.
From Wikipedia’s article on Fairchild Systems, shared under CC BY-SA 4.0.3