WALTHAM, Mass., 3 Sept. 2009. Raytheon Co. in Waltham, Mass., has agreed to acquire BBN Technologies in Cambridge, Mass., to enhance Raytheon's capabilities in technology research and development (R&D). BBN developed the ARPANET -- forerunner of the Internet -- as well as the Boomerang acoustic-based shooter detection system, and other mission critical military and intelligence systems.
BBN specializes in advanced computer networking, speech and language technologies, information technologies, sensor systems, and cyber security. "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," says William H. Swanson, Raytheon's chairman and chief executive officer.
Following the acquisition, BBN Technologies will become part of Raytheon Network Centric Systems (NCS) in McKinney, Texas. "This acquisition will strengthen our positions in networking, communications, video surveillance, and advanced sensing applications," says NCS President Colin Schottlaender.
The transaction is expected to close this fall, subject to closing conditions and regulatory approvals. The transaction is not expected to materially influence revenue or earnings per share for the fourth quarter of 2009, and is expected to be accretive in 2010. Terms of the agreement are not being disclosed.
For more information contact Raytheon Network Centric Systems online at www.raytheon.com.
-- Posted by John Keller, jkeller@pennwell.com. www.milaero.com.
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