Raytheon completes purchase of BBN Technologies
Contractor pays $350 million for Cambridge, Mass., defense company
- By David Hubler
- Oct 27, 2009
Raytheon Co. has completed its acquisition of BBN Technologies, a provider of critical solutions for national defense and security missions.
The purchase price was approximately $350 million, subject to post-closing adjustments, a statement from Raytheon said.
BBN encompasses a diverse portfolio, including advanced networking, speech and language technologies, information technologies, sensor systems and cybersecurity.
The Cambridge, Mass., company will become part of the company’s Network Centric Systems and operate as Raytheon BBN Technologies.
“BBN has tremendous technological capabilities, and we see immediate opportunities for applying its technologies to enhance our products,” Colin Schottlaender, president of Raytheon Network Centric Systems, said in the statement.
Raytheon, of Waltham, Mass., ranks No. 5 on Washington Technology’s 2009 Top 100 list of the largest federal government prime contractors.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.