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."
Source: Raytheon Corporation (NYSE: RTN)
Date: Nov 5, 2014