Raytheon Intelligence & Space to acquire SEAKR Engineering

Rhea-AI Summary

Raytheon Technologies (NYSE: RTX) announced a definitive agreement to acquire SEAKR Engineering, a leading supplier of advanced space electronics, enhancing its capabilities in the space sector. The acquisition, pending regulatory approvals, positions SEAKR as a wholly-owned subsidiary under Raytheon Intelligence & Space. SEAKR, with over 540 employees, boasts a 100% on-orbit success rate across 300 flight units. This strategic move aims to expand Raytheon's core space business and accelerate innovation in space technology.

Positive

• Acquisition of SEAKR Engineering enhances Raytheon's capabilities in advanced space electronics.
• SEAKR's 100% on-orbit success rate across 300 flight units strengthens Raytheon's product offerings.
• The acquisition is expected to accelerate the development of innovative space solutions.

Negative

• None.

ARLINGTON, Va., Sept. 14, 2021 /PRNewswire/ -- Raytheon Technologies (NYSE: RTX) has signed a definitive agreement to acquire privately-held SEAKR Engineering, Inc., a leading supplier of advanced space electronics. Closure of the acquisition is subject to the completion of customary conditions and regulatory approvals. SEAKR Engineering will be a wholly-owned subsidiary of Raytheon Technologies and will report into Raytheon Intelligence & Space upon closing. 

"Our investment strategy accelerates our agility in meeting a higher standard of performance ― the space standard ― and expands our core space business with new applications that are shaping our world," said Roy Azevedo, president of Raytheon Intelligence & Space. "With SEAKR Engineering, we are enhancing our capability to provide qualified systems faster. SEAKR's culture of forward-thinking innovation will complement our ability to solve our space customers' hardest problems."

Based in Centennial, Colorado with more than 540 employees, SEAKR Engineering was founded in 1981 by the Anderson family. Over the last 40 years, the company has delivered more than 300 flight units with a 100% on-orbit success rate.

"SEAKR Engineering is a forward-leaning business with a determined drive to innovate and do the work necessary to make advancements that enable new possibilities in space," said Scott Anderson, President and Co-Founder, SEAKR Engineering. "Being able to leverage the strengths and expertise of the Raytheon Technologies team, we will have the ability to build on our industry-leading products as part of a larger talented team equally committed to our customers, employees and values."

Raytheon Intelligence & Space's and SEAKR's portfolios are highly complementary, and with RI&S' support, SEAKR's deep bench of talent will be even better positioned to drive growth through our robust, combined pipeline of products.

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 46 countries around the world. Headquartered in Arlington, Virginia, the business generated $15 billion in adjusted pro forma annual revenue in 2020 and has 37,000 employees worldwide. Raytheon Intelligence & Space is one of four businesses that form Raytheon Technologies Corporation.

About SEAKR Engineering, Inc.
SEAKR Engineering, Inc. (SEAKR) is a leading supplier of space qualified state-of-the-art electronics for advanced processors, networked systems, reconfigurable Radio Frequency (RF) and Electro-Optical (EO) payloads, and digital channelizers/beamformers.  These systems utilize SEAKR's Radiation Hardened system By Design (RHBD) techniques that have successfully been deployed in over 300 missions with a 100% on-orbit success rate.  Utilizing RHBD techniques, SEAKR leads the industry with some of the highest performance systems that have flown, and with new developments, SEAKR will continue to push these boundaries.  SEAKR designs, builds, and tests these systems at their facilities in Colorado.

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
Dave Desilets
RISPR@raytheon.com

View original content:https://www.prnewswire.com/news-releases/raytheon-intelligence--space-to-acquire-seakr-engineering-301376719.html

SOURCE Raytheon Technologies

FAQ

What is the purpose of Raytheon's acquisition of SEAKR Engineering?

The acquisition aims to enhance Raytheon's capabilities in advanced space electronics and accelerate innovation in the space sector.

When was the acquisition of SEAKR Engineering announced?

The acquisition was announced on September 14, 2021.

What is the significance of SEAKR's 100% on-orbit success rate?

SEAKR's 100% on-orbit success rate across its 300 flight units demonstrates the reliability and effectiveness of its advanced space systems.

What will happen to SEAKR Engineering after the acquisition?

SEAKR Engineering will become a wholly-owned subsidiary of Raytheon Technologies and will report into Raytheon Intelligence & Space.

How will the acquisition affect Raytheon Technologies' business?

The acquisition is anticipated to expand Raytheon's core space business and improve its ability to deliver innovative solutions to customers.