LEXINGTON, Mass., Dec. 20 /PRNewswire/ -- Raytheon Company (NYSE: RTN)
announced today two acquisitions that will strategically strengthen its
portfolio of integrated communications technologies used across its missile
defense, intelligence, surveillance and reconnaissance, precision strike and
homeland security strategic business areas.
The Company announced an agreement to acquire the Solipsys Corporation
based in Laurel, Md. Solipsys is a privately held software company
specializing in Department of Defense integration software. The transaction
is expected to close during the first quarter of 2003 subject to regulatory
approvals.
The Company also has acquired JPS Communications, Inc. (JPS) located in
Raleigh, N.C. JPS is an innovator in key communications interoperability
technologies used in civilian government command and control networks. JPS
was privately held. The terms of this transaction were not disclosed.
"Our strategy is to make niche, tuck-in acquisitions to strengthen our
already capable portfolio of businesses that will not stress our balance
sheet. The capabilities of these two companies will enhance capabilities in
all four of our strategic business areas," said Daniel P. Burnham, Raytheon
chairman and chief executive officer.
"Solipsys' expertise in data fusion, data distribution and display, and
modeling and simulation will strengthen our product lines and our ability to
achieve success in a very competitive marketplace," said William H. Swanson,
Raytheon president.
Swanson added, "JPS's unique technologies allow interoperability among
agencies such as police, fire, and hospitals with dissimilar communications
equipment without requiring replacement of their complete infrastructures.
These capabilities also apply to our military customers by helping bridge the
interoperability gap among the US services and our joint coalition forces.
Raytheon's global presence and system integration capabilities will also
provide greater opportunities to apply JPS technologies in turnkey
infrastructure projects such as statewide networks, power plants and even high
schools."
These acquisitions are the first for Raytheon since 1998.
Based in Lexington, Mass., Raytheon is a global technology leader in
defense, government and commercial electronics, and business and special
mission aircraft.
Contact:
James Fetig
781-860-2386
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
James Fetig of Raytheon Company,
+1-781-860-2386
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