Date posted: 10/26/2009*

Raytheon has completed its acquisition of BBN Technologies, a world leader in research and development and provider of critical solutions for national defense and security missions. The purchase price is approximately $350 million, subject to post-closing adjustments.

“BBN has tremendous technological capabilities, and we see immediate opportunities for applying its technologies to enhance our products,” said Colin Schottlaender, president, Raytheon Network Centric Systems. “The depth of scientific and engineering talent inside BBN is very impressive, and we look forward to better serving our customers through the strengths of our combined organizations.” BBN will become part of Network Centric Systems and operate as Raytheon BBN Technologies.

BBN’s diverse portfolio encompasses a range of technologies including advanced networking, speech and language technologies, information technologies, sensor systems and cybersecurity.

Robert G. (Tad) Elmer, BBN president and CEO, said, “Becoming part of Raytheon is good for our business, our customers and our employees. Together we will be able to transition very advanced technologies quickly into larger programs, creating both the most advanced systems possible for customers and rich opportunities for our scientists and engineers.”

Visit the BBN Technologies Web site for more information.