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Raytheon Announces Transactions
FALLS CHURCH, Va., Aug. 22, 2005 /PRNewswire-FirstCall/ -- Raytheon Company (NYSE: RTN) today announced the acquisition of UTD, Inc., a privately held science and engineering company based in Springfield, Va.
UTD will become part of Raytheon's Intelligence and Information Systems (IIS) business -- a leading provider of information and intelligence solutions to government clients. UTD, with annual revenues in excess of $25 million will add to Raytheon's capabilities in geospatial, geologic and technical mission support.
"UTD is a strategic fit with our core intelligence business," said Raytheon IIS President Michael D. Keebaugh. "Most importantly, the unique skills and offerings of UTD enable us to provide customers with a greater depth of technological expertise and access to some of the industry's most state-of-the-art national security technologies."
In an unrelated transaction, Raytheon sold its Debt Management Solutions operations.
"We are pleased to announce the completion of these transactions. They are consistent with our strategy to achieve growth by expanding our core market capabilities through niche acquisitions while shedding non-core assets," added Keebaugh.
Raytheon Intelligence and Information Systems is a leading provider of information solutions to the defense and intelligence community. With more than $2 billion in annual revenue and approximately 9,700 employees, IIS specializes in signals, imaging and geospatial intelligence, air and space- borne command and control, ground engineering support, weather and environmental data management, homeland security and federal information technology.
Raytheon Company (NYSE: RTN), with 2004 sales of $20.2 billion, is an industry leader in defense and government electronics, space, information technology, technical services, and business and special mission aircraft. With headquarters in Waltham, Mass., Raytheon employs 80,000 people worldwide.
Contact: Charlene Wheeless 703.208.1236
SOURCE: Raytheon Company
Web site: http://www.raytheon.com/