Closure of the acquisition, expected by early 2021, is subject to the completion of customary conditions and regulatory approvals. Blue Canyon Technologies will report into Raytheon Intelligence & Space upon closing.
Roy Azevedo, president of Raytheon Intelligence & Space, said, "The space market is rapidly expanding and our customers need comprehensive solutions faster than ever before. What makes Blue Canyon Technologies the right fit for our business is its agile, innovative culture and expertise in small satellite systems and technologies.
"This acquisition enables us to deliver a broader range of solutions to support our customers' space missions – from sensing subsystems to mission systems integration and from launch and range support to on-orbit operations."
Based in Boulder, Colorado, with more than 200 employees, Blue Canyon Technologies was founded in 2008. The company currently has more than 90 satellites in production, and has supported missions for the US Air Force, NASA and the Defense Advanced Research Projects Agency (DARPA).
Raytheon Intelligence & Space is a developer of advanced sensors, training, and cyber and software solutions, and provides a decisive advantage to civil, military and commercial customers in more than 40 countries around the world.
Headquartered in Arlington, Virginia, the business generated $14 billion in pro forma annual revenue in 2019 and has 35,700 employees worldwide. Raytheon Intelligence & Space is one of four businesses that form Raytheon Technologies Corporation.
Blue Canyon Technologies is a vertically integrated spacecraft manufacturer supporting nearly 50 unique missions with over 90 spacecraft.
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