ARLINGTON, Va., Nov. 10, 2020 /PRNewswire/ -- Raytheon
Technologies (NYSE: RTX) has signed a definitive agreement to
acquire privately held Blue Canyon Technologies, a leading provider
of small satellites and spacecraft systems components. Closure of
the acquisition, expected by early 2021, is subject to the
completion of customary conditions and regulatory approvals. Blue
Canyon Technologies will report into Raytheon Intelligence &
Space upon closing.
"The space market is rapidly expanding and our customers need
comprehensive solutions faster than ever before," said Roy Azevedo, president of Raytheon Intelligence
& Space. "What makes Blue Canyon Technologies the right fit for
our business is its agile, innovative culture and expertise in
small satellite systems and technologies. This acquisition enables
us to deliver a broader range of solutions to support our
customers' space missions – from sensing subsystems to mission
systems integration and from launch and range support to on-orbit
operations."
Based in Boulder, Colorado with
more than 200 employees, Blue Canyon Technologies was founded in
2008. The company currently has more than 90 satellites in
production, and has supported missions for the U.S. Air Force, NASA
and the Defense Advanced Research Projects Agency.
About Raytheon Intelligence & Space
Raytheon
Intelligence & Space delivers the disruptive technologies our
customers need to succeed in any domain, against any challenge. A
developer of advanced sensors, training, and cyber and software
solutions, Raytheon Intelligence & Space provides a decisive
advantage to civil, military and commercial customers in more than
40 countries around the world. Headquartered in Arlington, Virginia, the business generated
$14 billion in pro forma annual
revenue in 2019 and has 35,700 employees worldwide. Raytheon
Intelligence & Space is one of four businesses that form
Raytheon Technologies Corporation.
About Blue Canyon Technologies
Blue Canyon
Technologies, Inc., a Colorado-based company founded in 2008 to
bring innovative, reliable and affordable solutions to space
missions, is an experienced integrator of aerospace systems and
developer of advanced aerospace products and technologies. BCT
is a vertically integrated spacecraft manufacturer supporting
nearly 50 unique missions with over 90 spacecraft.
BCT has supported missions for the U.S. Air Force, NASA, the
Defense Advanced Research Projects Agency and many others and
provided the Attitude Control Systems for the first interplanetary
CubeSats which successfully traveled to Mars. The company has been
recognized with awards including the 2020 Inc Magazine's 5000
Fastest Growing Private Companies, 2017 Colorado Companies to
Watch, 2019 Best in Biz and the 2019 Colorado Biz Made in Colorado
Emerging Manufacturer Winner.
About Raytheon Technologies
Raytheon Technologies
Corporation is an aerospace and defense company that provides
advanced systems and services for commercial, military and
government customers worldwide. With four industry-leading
businesses ― Collins Aerospace Systems, Pratt & Whitney,
Raytheon Intelligence & Space and Raytheon Missiles &
Defense ― the company delivers solutions that push the boundaries
in avionics, cybersecurity, directed energy, electric propulsion,
hypersonics, and quantum physics. The company, formed in 2020
through the combination of Raytheon Company and the United
Technologies Corporation aerospace businesses, is headquartered in
Waltham, Massachusetts.
Media contact:
Dana
Carroll
C: 310-343-0511
dana.carroll@rtx.com
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SOURCE Raytheon Technologies