Raytheon Technologies (NYSE: RTX) has signed a definitive agreement to acquire privately-held SEAKR Engineering, Inc., a leading supplier of advanced space electronics. Closure of the acquisition is subject to the completion of customary conditions and regulatory approvals. SEAKR Engineering will be a wholly-owned subsidiary of Raytheon Technologies and will report into Raytheon Intelligence & Space upon closing.
"Our investment strategy accelerates our agility in meeting a higher standard of performance ? the space standard ? and expands our core space business with new applications that are shaping our world," said Roy Azevedo, president of Raytheon Intelligence & Space. "With SEAKR Engineering, we are enhancing our capability to provide qualified systems faster. SEAKR's culture of forward-thinking innovation will complement our ability to solve our space customers' hardest problems."
Based in Centennial, Colorado with more than 540 employees, SEAKR Engineering was founded in 1981 by the Anderson family. Over the last 40 years, the company has delivered more than 300 flight units with a 100% on-orbit success rate.
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Download free sample pages"SEAKR Engineering is a forward-leaning business with a determined drive to innovate and do the work necessary to make advancements that enable new possibilities in space," said Scott Anderson, President and Co-Founder, SEAKR Engineering. "Being able to leverage the strengths and expertise of the Raytheon Technologies team, we will have the ability to build on our industry-leading products as part of a larger talented team equally committed to our customers, employees and values."
Raytheon Intelligence & Space's and SEAKR's portfolios are highly complementary, and with RI&S' support, SEAKR's deep bench of talent will be even better positioned to drive growth through our robust, combined pipeline of products.
