Blue Canyon Technologies Announces Completion of Acquisition by Raytheon Technologies

Rhea-AI Summary

Blue Canyon Technologies (BCT) has been acquired by Raytheon Technologies (NYSE: RTX), enhancing its position in the aerospace sector. The integration will allow BCT to expand its small satellite solutions, including nanosatellites and microsatellites, meeting growing market demands. BCT is currently building over 90 spacecraft for various missions and has recently expanded its operational capabilities with a new 80,000-square-foot facility in Colorado. This strategic acquisition aims to leverage Raytheon's advanced technology to further transform the space industry.

Positive

• Acquisition by Raytheon enhances BCT's operational capacity and market reach.
• BCT is building over 90 spacecraft, indicating strong demand and business growth.
• New 80,000-square-foot facility supports increased production capabilities.

Negative

• None.

Leading small satellite manufacturer and mission services provider Blue Canyon Technologies (“BCT” or “Blue Canyon”) announced today the completion of its acquisition by Raytheon Technologies (NYSE: RTX), an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. BCT now reports into Raytheon Intelligence & Space, a business of Raytheon Technologies.

“Raytheon Intelligence & Space delivers the disruptive technologies customers need to succeed,” said George Stafford, president and CEO of Blue Canyon. “Joining this team will enable our innovative small-satellite solutions to continue to transform the space industry and drive our customers’ success.”

Blue Canyon’s diverse portfolio of spacecraft has successfully enabled a broad range of missions and technological advancements for the U.S. Government and new space economy, further reducing the barriers of space entry. The acquisition allows BCT to grow its innovative product line to meet customer demand, including small satellite solutions including nanosatellites, microsatellites, ESPA-class satellites, and related technology.

BCT is currently building more than 90 spacecraft for government, commercial and academic missions. BCT has seen significant growth over the past 12 months and recently opened its new 80,000-square-foot Satellite Constellation Factory headquarters and production facility in Lafayette, Colorado. BCT will continue to serve its customer base under the current business name and brand from their Boulder and Lafayette, Colorado facilities.

About Blue Canyon Technologies

Blue Canyon Technologies, a wholly-owned subsidiary of Raytheon Technologies, offers a diverse portfolio of innovative, reliable and affordable spacecraft that enable a broad range of missions and technological advancements for the new space economy, reducing the barriers of space entry. BCT is currently supporting nearly 50 unique missions with over 90 spacecraft, all in production at their newly developed 80,000-square-foot facility in Lafayette, Colorado.

BCT has supported missions for the U.S. Air Force, NASA and the Defense Advanced Research Projects Agency, and provided the Attitude Control Systems for the first interplanetary CubeSats, which successfully traveled to Mars. The company has been recognized with awards from Inc. Magazine’s 5000 Fastest Growing Private Companies, 2019 Best in Biz award, 2019 ColoradoBiz Made in Colorado Emerging Manufacturer Winner and the 2020 Tibbetts Award.

For the latest news on Blue Canyon Technologies and for other company information, please visit www.bluecanyontech.com. You can follow the company on Instagram here or Twitter here.

About Raytheon Intelligence & Space

Raytheon Intelligence & Space delivers the disruptive technologies our customers need to succeed in any domain, against any challenge. A developer of advanced sensors, training, and cyber and software solutions, Raytheon Intelligence & Space 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201221005766/en/

FAQ

What was the date of Blue Canyon Technologies' acquisition by Raytheon Technologies?

The acquisition was announced on the date of the press release, which is unspecified.

What is the impact of the acquisition on Raytheon Technologies' business?

The acquisition is expected to enhance Raytheon Technologies' capabilities in small satellite solutions and expand its aerospace services.

How many spacecraft is Blue Canyon currently building?

Blue Canyon is building over 90 spacecraft for various missions.

What types of satellites does Blue Canyon Technologies specialize in?

BCT specializes in small satellite solutions, including nanosatellites and microsatellites.

Where is Blue Canyon Technologies' new headquarters located?

BCT's new headquarters is located in Lafayette, Colorado.