Raytheon buys Oakley cybersecurity firm

GARLAND, Texas, Oct. 23 (UPI) -- U.S. company Raytheon said Tuesday it had bought a cybersecurity company to boost its capabilities in that area.

Raytheon said in a statement it had "completed its acquisition of Oakley Networks Inc., a privately held technology company based in Salt Lake City, Utah, and a recognized leader in cybersecurity and data leakage prevention systems."

"The purchase of Oakley Networks strengthens Raytheon's capabilities in information security for government and commercial customers," the company said.

Raytheon said it would run Oakley Networks "as a new, wholly owned subsidiary, Raytheon Oakley Systems Inc., within Raytheon's Intelligence and Information Systems business -- IIS."

"The combination of Raytheon and Oakley Networks offers a unique set of products and services that builds upon Raytheon's software systems expertise and leverages Oakley's broad enterprise monitoring solutions," Raytheon said.

"The purchase of Oakley Networks supports our growth strategy of strengthening solutions in current markets, and entering adjacent markets where we can establish a leadership position," said Michael D. Keebaugh, president of Raytheon Intelligence and Information Systems.

"Oakley's capabilities complement the IIS portfolio, enable us to bring new services to our legacy government customers, and build upon Raytheon's four decades of experience protecting government information," Keebaugh said.

"Our best-of-breed data and infrastructure protection technologies are now backed with world-class services and support for design, deployment, integration and ongoing mission management," said Derek Smith, president of Raytheon Oakley Systems. "This combination gives us the strongest solution for both federal agencies and Fortune 500 companies that comprise our national infrastructure," he said.

Raytheon said its IIS unit was "a leading provider of information and intelligence solutions to the government."

"Raytheon IIS has annual revenues of approximately $2.6 billion and employs more than 9,000 engineering and technical professionals worldwide. Raytheon IIS achieved a strategic milestone in earning CMMI(R) -- Capability Maturity Model Integration -- Maturity Level 3 accreditation for the full model scope -- System Engineering, Software Engineering, Integrated Product and Process Development, and Supplier Sourcing -- across its enterprise," the company said.