Raytheon Intelligence & Space to acquire Blue Canyon Technologies

Rhea-AI Summary

Raytheon Technologies (NYSE: RTX) has announced a definitive agreement to acquire Blue Canyon Technologies, a leader in small satellites and spacecraft systems. The acquisition is expected to close by early 2021, pending regulatory approval. This move aims to enhance Raytheon’s capability to deliver comprehensive solutions for evolving space market demands. Blue Canyon, based in Boulder, Colorado, has over 90 satellites in production and has supported significant missions for entities like the U.S. Air Force and NASA.

Positive

• Strategic acquisition to enhance Raytheon's capabilities in small satellite systems.
• Access to Blue Canyon's innovative technology and expertise in space solutions.
• Potential to expand customer offerings in the rapidly growing space market.

Negative

• None.

ARLINGTON, Va., Nov. 10, 2020 /PRNewswire/ -- Raytheon Technologies (NYSE: RTX) has signed a definitive agreement to acquire privately held Blue Canyon Technologies, a leading provider of small satellites and spacecraft systems components. 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. 

"The space market is rapidly expanding and our customers need comprehensive solutions faster than ever before," said Roy Azevedo, president of Raytheon Intelligence & Space. "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 U.S. Air Force, NASA and the Defense Advanced Research Projects Agency. 

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.

About Blue Canyon Technologies
Blue Canyon Technologies, Inc., a Colorado-based company founded in 2008 to bring innovative, reliable and affordable solutions to space missions, is an experienced integrator of aerospace systems and developer of advanced aerospace products and technologies. BCT is a vertically integrated spacecraft manufacturer supporting nearly 50 unique missions with over 90 spacecraft.

BCT has supported missions for the U.S. Air Force, NASA, the Defense Advanced Research Projects Agency and many others and provided the Attitude Control Systems for the first interplanetary CubeSats which successfully traveled to Mars. The company has been recognized with awards including the 2020 Inc Magazine's 5000 Fastest Growing Private Companies, 2017 Colorado Companies to Watch, 2019 Best in Biz and the 2019 Colorado Biz Made in Colorado Emerging Manufacturer Winner.

About Raytheon Technologies
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.

Media contact:
Dana Carroll
C: 310-343-0511
dana.carroll@rtx.com

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SOURCE Raytheon Technologies

FAQ

What is the purpose of Raytheon Technologies' acquisition of Blue Canyon Technologies?

The acquisition aims to enhance Raytheon's capabilities in delivering comprehensive space solutions, addressing the rapidly expanding space market.

When is the acquisition of Blue Canyon Technologies expected to close?

The acquisition is expected to close by early 2021, subject to regulatory approvals.

What are Blue Canyon Technologies' main contributions in the aerospace sector?

Blue Canyon Technologies specializes in small satellites and has supported over 90 spacecraft missions for various government agencies, including NASA and the U.S. Air Force.

How will this acquisition impact Raytheon Technologies' market position?

The acquisition is expected to strengthen Raytheon's position in providing advanced solutions in the space domain, potentially increasing revenue and market share.

What is Blue Canyon Technologies known for?

Blue Canyon Technologies is recognized for its innovative, reliable, and affordable solutions for space missions, including advanced spacecraft systems.