Raytheon Completes Acquisition of Oakley Networks

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Raytheon Completes Acquisition of Oakley Networks
  Integration of Oakley capabilities enhances strong information security
                                 portfolio

    GARLAND, Texas, Oct. 23, 2007 /PRNewswire/ -- Raytheon Company (NYSE:
RTN) announced today that it has completed its acquisition of Oakley
Networks, Inc., a privately held technology company based in Salt Lake
City, Utah, and a recognized leader in cyber-security and data leakage
prevention systems. The purchase of Oakley Networks strengthens Raytheon's
capabilities in information security for government and commercial
customers.
    Raytheon will operate the company 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.
    "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
added
    "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 added.
    Based in Garland, Texas, Raytheon IIS is 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.
    Raytheon Company, with 2006 sales of $20.3 billion, is a technology
leader specializing in defense, homeland security and other government
markets throughout the world. With a history of innovation spanning 85
years, Raytheon provides state-of-the-art electronics, mission systems
integration and other capabilities in the areas of sensing; effects; and
command, control, communications and intelligence systems, as well as a
broad range of mission support services. With headquarters in Waltham,
Mass., Raytheon employs 73,000 people worldwide.
    Contact:
    Charlene Wheeless
    703.208.1236
SOURCE Raytheon Company
http://www.raytheon.com
CONTACT:
Charlene Wheeless of Raytheon Company,
+1-703-208-1236