Defense contractor Raytheon is to acquire cybersecurity and surveillance firm Blackbird Technologies for $420m, reports Reuters.
Blackbird provides surveillance and security services to spy agencies, which include companies that work with the Department of Defense. Raytheon will use these services to expand its own operations in these fields.
“Blackbird Technologies is a strong fit for Raytheon and enhances the growth prospects of our business and the capabilities we can offer our customers,” says Lynn Dugle of Raytheon’s intelligence information services.
“Blackbird expands Raytheon’s already-established footprint in the Intelligence Community market while helping to grow our cyber operations and special missions support to the Department of Defense.”
Raytheon has been expanding its reach into overseas customers in recent years, according to the Wall Street Journal. Also, according to firm’s announcement, the $420m price tag will not ‘materially’ affect its sales or earnings next quarter.