Raytheon enhances security solutions portfolio

DULLES, Va., Nov. 5 (UPI) -- Raytheon has acquired Blackbird Technologies, enhancing its persistent surveillance, secure tactical communications and cybersecurity.

Blackbird is headquartered in Virginia, with customers in the intelligence community and U.S. Special Operations Command. It will now become part of Raytheon Company's Intelligence, Information and Services business.

"Blackbird Technologies is a strong fit for Raytheon and enhances the growth prospects of our business and the capabilities we can offer our customers," said Lynn Dugle, president of Raytheon Intelligence Information and Services. "Blackbird expands Raytheon's already established footprint in the intelligence community market while helping to grow our cyber-operations and special missions support to the Department of Defense.

"The combination will bring even more talent, innovation and experience to our customers."

Raytheon said it acquired Blackbird Technologies for about $420 million, subject to post-closing adjustments. The transaction, it added will "not materially impact Raytheon sales or earnings per share for the fourth quarter of 2014."

"Raytheon's extraordinary technical depth and our combined capabilities in cyber-security, persistent surveillance, and secure tactical communications will allow us to deliver the next generation of end-to-end solutions to our customers in the IC (intelligence community) and special operations markets," Blackbird Chief Executive Officer Peggy Styer said of the takeover.