Raytheon is an aerospace and defense company that “provides advanced systems and services for commercial, military and government customers worldwide.” Now, the corporation is extending its reach into space by acquiring the small satellite company, Blue Canyon.
Blue Canyon specializes in the manufacturing of satellites and other spacecraft components. The company currently has around 90 satellites in production for DARPA, the U.S. Air Force, and NASA.
It’s no surprise that Raytheon would have the desire to purchase a company like Blue Canyon. Blue Canyon has been gradually increasing its defense sales, making it a much more appealing company. This includes winning a $14.1 million contract for producing four satellite buses for DARPA’s Blackjack program.
“The space market is rapidly expanding, and our customers need comprehensive solutions faster than ever before,” said Roy Azevedo, president of Raytheon. Azevedo then went on to say, “What makes Blue Canyon Technologies the right fit for our business is its agile, innovative culture and expertise in small satellite systems and technologies.”
Of course, the acquisition still has to obtain regulatory approval. Because of this, the acquisition is expected to be finalized sometime in early 2021.
Blue Canyon currently has around 200 employees and was founded in 2008. The price of the acquisition has not been made publicly available.