DULLES, Va., Nov. 5, 2014 /PRNewswire/ -- Raytheon Company
(NYSE: RTN) today announced that it has acquired Blackbird
Technologies, a leading provider of persistent surveillance, secure
tactical communications and cybersecurity solutions to the
Intelligence Community (IC) and special operations market.
The purchase price is approximately $420 million, subject to post-closing
adjustments. The transaction will not materially impact
Raytheon sales or earnings per share for the fourth quarter of
2014.
Located in Herndon, Virginia,
Blackbird will become part of Raytheon Company's Intelligence,
Information and Services (IIS) business.
With customers in the IC, Special Operations Command (SOCOM) and
the intelligence organizations supporting the Department of
Defense, Blackbird Technologies expands Raytheon's special
operations capabilities in tactical intelligence, surveillance and
reconnaissance, secure tactical communications and cybersecurity
across a broad spectrum of globally dispersed platforms and
communications networks. Blackbird Technologies also provides key
synergies with Raytheon's existing cybersecurity, sensor,
communications and command and control capabilities. With this
transaction, Raytheon becomes one of the top industry partners to
SOCOM.
"Blackbird Technologies is a strong fit for Raytheon and
enhances the growth prospects of our business and the capabilities
we can offer our customers," said Lynn
Dugle, President of Raytheon Intelligence Information and
Services. "Blackbird expands Raytheon's already-established
footprint in the Intelligence Community market while helping to
grow our cyber operations and special missions support to the
Department of Defense. The combination will bring even more talent,
innovation and experience to our customers."
"Raytheon is driven by innovation and a relentless focus on
customer success. We are excited to join a company that is such a
great cultural fit for Blackbird's employees and customers," said
Peggy Styer, CEO of Blackbird
Technologies. "Raytheon's extraordinary technical depth and our
combined capabilities in cyber security, persistent surveillance,
and secure tactical communications will allow us to deliver the
next generation of end-to-end solutions to our customers in the IC
and special operations markets."
About Raytheon
Raytheon Company, with 2013 sales of $24
billion and 63,000 employees worldwide, is a technology and
innovation leader specializing in defense, security and civil
markets throughout the world. With a history of innovation spanning
92 years, Raytheon provides state-of-the-art electronics, mission
systems integration and other capabilities in the areas of sensing;
effects; and command, control, communications and intelligence
systems, as well as cyber security and a broad range of mission
support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit
us at www.raytheon.com and follow us on
Twitter @Raytheon.
Disclosure Regarding Forward-Looking Statements
This release contains forward-looking statements regarding the
expected benefits of the acquisition, and these statements are
subject to risks related to, among other things, the ability of
Raytheon to successfully integrate the acquisition and to achieve
expected synergies and other benefits. Actual results may differ
materially from what is expressed or implied by the forward-looking
statements. For information regarding other related risks, please
see the "Risk Factors" section of Raytheon's filings with the
Securities and Exchange Commission, including its most recent
filing on Form 10-K.
Media Contact
Raytheon
Lindsey
Borg
+1 571.250.1744
iispr@raytheon.com
SOURCE Raytheon Company