Raytheon Co. (NYSE:RTN) | Acquisitions & Divestitures

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Acquisitions



In pursuing its business strategies, Raytheon acquires and makes investments in certain businesses that meet strategic and financial criteria.

Acquisitions made by Raytheon in the years 2009 to 2014 are discussed in the following.



Blackbird Technologies


In November 2014, Raytheon acquired Blackbird Technologies, Incorporated, subsequently renamed Raytheon Blackbird Technologies (RBT), for $427 million in cash, net of cash acquired. RBT is a leading provider of persistent surveillance, secure tactical communications and cybersecurity solutions to the Intelligence Community and special operations market and further expands Raytheon's Intelligence, Information and Services (IIS) offerings. In connection with this acquisition, Raytheon has recorded $301 million of goodwill.



Visual Analytics, Incorporated


In June 2013, Raytheon acquired Visual Analytics, Incorporated, subsequently renamed Raytheon Visual Analytics Incorporated (RVAI). RVAI further extends the company's capabilities to meet the data analytics, data visualization and information sharing needs of its customers, and this acquisition is part of Raytheon's strategy to enhance its Intelligence, Information and Services (IIS) offerings. In connection with this acquisition, Raytheon has recorded $12 million of goodwill.



Government Solutions Business of SafeNet, Inc.


In December 2012, Raytheon acquired the Government Solutions business of SafeNet, Inc., subsequently renamed Raytheon Secure Information Systems, LLC (RSIS) for approximately $280 million in cash, net of cash acquired and exclusive of retention payments. RSIS will be integrated into the company's Network Centric Systems (NCS) business, within the Integrated Communication Systems product line as the Secure Information Systems product area. RSIS provides advanced encryption capabilities needed by government and industry customers to protect classified data. In connection with this transaction, Raytheon has preliminarily recorded $197 million of goodwill.



Other 2012 Acquisitions


Additionally, in 2012, Raytheon acquired Teligy, Inc., subsequently renamed Raytheon Teligy, Inc., and an Australian company, Poseidon Scientific Instruments Pty Ltd., for an aggregate of $22 million in cash, net of cash acquired. Raytheon Teligy, Inc. further extends the company's cybersecurity offerings in wireless communications at Intelligence and Information Systems (IIS). The Poseidon Scientific Instruments Pty Ltd. acquisition is part of Raytheon's strategy to extend and enhance its Integrated Defense Systems (IDS) offerings. In connection with these acquisitions Raytheon recorded $15 million of goodwill.



Applied Signal Technology, Inc.


On January 31, 2011, Raytheon acquired Applied Signal Technology, Inc., subsequently renamed Raytheon Applied Signal Technology, Inc. (RAST) for $500 million in cash, net of $25 million of cash and cash equivalents acquired, and exclusive of retention and management incentive payments. RAST provides advanced intelligence, surveillance, and reconnaissance (ISR) solutions to enhance global security. The acquisition is part of Raytheon's strategy to extend and enhance its Space and Airborne Systems (SAS) offerings related to certain classified and Department of Defense markets. In connection with this acquisition, the company recorded $387 million of goodwill.



Other 2011 Acquisitions


Additionally, in 2011, Raytheon acquired Henggeler Computer Consultants Inc., Pikewerks Corporation and substantially all of the assets of Ktech Corporation for an aggregate of $145 million in cash, net of cash acquired. The Henggeler Computer Consultants Inc. and Pikewerks Corporation acquisitions enhance Raytheon's cybersecurity and information assurance capabilities at Intelligence and Information Systems (IIS). The Ktech Corporation acquisition is part of Raytheon's strategy to extend and enhance its Missile Systems (MS) offerings. In connection with these acquisitions, Raytheon has recorded $112 million of goodwill.



Trusted Computer Solutions Inc.


In 2010, Raytheon acquired Trusted Computer Solutions Inc., Technology Associates Inc. and substantially all of the assets of an Australian company, Compucat Research Pty. Ltd, for an aggregate of $152M in cash, net of cash acquired. These acquisitions enhance Raytheon's cybersecurity and information assurance capabilities at Intelligence and Information Systems (IIS). In connection with these acquisitions, Raytheon recorded $125 million of goodwill.



BBN Technologies Corp.


In 2009, Raytheon acquired BBN Technologies Corp. and related entities which enhances the company's advanced networking, speech and language technologies, information technologies, sensor systems and cybersecurity at Network Centric Systems (NCS) for $334 million in cash, net of $22 million of cash acquired, exclusive of retention and management incentive payments. In connection with this acquisition, Raytheon recorded $254 million of goodwill.




Divestitures



None.

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