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Raytheon to acquire tech firm

On Tuesday, Raytheon Co. announced its plan to acquire research and development company BBN Technologies, with the actual date of close expected to occur in the fourth quarter.

The acquisition of BBN, which specializes in advanced networking, speech and language technologies, information sensor systems and cybersecurity, has raised Raytheon’s expectations for its military and intelligence operations.

According to Raytheon President of Network Centric Systems Colin Schottlaender, whose division BBN will join once the transaction is completed, the acquisition will strengthen the company’s foothold in the areas of networking, communications, video surveillance and advanced sensing applications.

Raytheon also expects the acquisition to increase earnings next year.

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