It seems that the Sikorsky saga has reached a satisfactory conclusion with Lockheed Martin Corp reported as the successful buyer for a figure rumored to be over $9 billion.

The end of the uncertainty will provide a big boost to both Lockheed and United Technologies, ahead of their second quarter earnings announcement which, coincidentally are both due on Tuesday. The other main suitor, Textron Inc, is said to have backed out of its bid once the price went higher.

While the deal has not yet been officially announced, it is expected, according to sources close to the deal, that there will be a statement later today. If confirmed, it will propel Lockheed far ahead of its nearest competitors, Boeing and Northrop Grumman. Already Lockheed has revenues of over $45 billion and this deal should significantly increase this although there are likely to be significant costs involved in the first year.

Although seen by some as the outsider in the race, given its reported reluctance to get involved in the actual manufacture of helicopters, the deal does help to remove many of the Pentagons concerns over a reduction in the number of helicopter makers.

It should also solve most of the anti-trust concerns based on one company have too big a share of the helicopter market.

“It’s a big deal, but it doesn’t concentrate markets any further than they already were,” said Virginia-based defense consultant Loren Thompson. “There’s no real overlap between the fighter market and the rotorcraft market. They’re discrete markets with different customers and users.”

For Lockheed it should be a win-win situation as it gives the company access to new markets and revenue streams while giving it a slew of new government contracts and make it less reliant on its $391 billion F-35 fighter project.

What United Technologies will do with the massive payday is yet to be confirmed, as it has publicly mentioned that new purchases in the current environment are becoming very expensive. However, by finalizing the transactions before its earnings report is due, it will settle a lot of shareholder concerns.

Update: The Wall Street Journal has confirmed that Lockheed will indeed purchase Sikorsky.  Bloomberg discussed the sale this morning on the air, we’ve posted that below.