Raytheon Acquires Photon Research Associates Inc.

Raytheon Co. acquired Photon Research Associates Inc. of San Diego, officials of Waltham, Mass., Raytheon announced today.

The terms of the transaction were not disclosed. PRA will be a wholly owned subsidiary of Raytheon, reporting to Raytheon's Space and Airborne Systems, company officials said.

The acquisition will strengthen Raytheon's capabilities in missile defense, intelligence, surveillance and reconnaissance, precision strike and homeland security, company officials said.

PRA has pioneered the development and application of physics-based modeling, simulation and analysis products and services for government and commercial markets. The company focuses on remote sensing, missile defense, surveillance and reconnaissance and intelligence data analysis.

"PRA is a perfect fit for Raytheon," said Jack Kelble, president of Raytheon's Space and Airborne Systems business. "The company brings a strong foundation of scientific knowledge and the know-how to solve challenging problems."

Raytheon had 2003 revenue of $18.1 billion and employs 78,000 people worldwide. The company was ranked No. 7 on Washington Technology's Top 100 list of federal prime contractors.

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