Raytheon announces purchase of BBN Technologies
Cambridge, Mass., company specializes in research and development, and critical solutions for national defense and security
Raytheon Co. will acquire BBN Technologies, a privately held specialist in research and development, and a provider of critical solutions for national defense and security missions. Financial terms of the purchase agreement are not being disclosed.
BBN’s portfolio includes advanced networking, speech and language technologies, information technology, sensor systems and cybersecurity. The company’s deep scientific and engineering talent aligns well with Raytheon’s expertise, company officials said in the Sept. 1 announcement.
BBN Technologies has a long history of innovation, including the ARPAnet (forerunner of the Internet). Current offerings include the Boomerang acoustic-based shooter detection system deployed with U.S. forces, and a broad range of technology development programs, many considered mission-critical by defense and intelligence customers, the officials said.
“We expect all of our businesses to benefit from the application of BBN’s research and development expertise and technologies across our product lines and programs,” said William Swanson, Raytheon chairman and chief executive officer.
Based in Cambridge, Mass., BBN employs 700 employees in seven U.S. locations. The company is ranked No. 92 on the Washington Technology Top 100.
Following the acquisition, BBN Technologies will be incorporated into Raytheon Network Centric Systems unit.
“This acquisition will strengthen our positions in networking, communications, video surveillance and advanced sensing applications,” said Colin Schottlaender, president of Raytheon’s Network Centric Systems, in the announcement.
The transaction is expected to close in the fourth quarter 2009 subject to customary closing conditions and regulatory approvals.
Raytheon, of Waltham, Mass., ranks No. 5 on Washington Technology’s 2009 Top 100 list of the largest federal government prime contractors.
About the Author
David Hubler is the associate editor of Washington Technology.