|Raytheon Announces Agreement to Purchase Oakley Networks|
GARLAND, Texas, Sept. 20, 2007 /PRNewswire-FirstCall/ -- Raytheon Company (NYSE: RTN) announced today that it has entered into an agreement to acquire Oakley Networks, a leading developer of cyber-security technology. Terms of the agreement were not released.
Oakley Networks was founded in 2001 to deliver security solutions to the U.S. government and Fortune 500 companies to protect their most critical information technology assets from abuse or misuse. The Oakley platform uniquely combines a broad enterprise monitoring solution with highly visual investigation and forensics tools that protect against a full range of cyber threats. The company, which is based in Salt Lake City, Utah, has 200 employees.
"We're very excited to add Oakley's capabilities to our own portfolio," said Michael D. Keebaugh, president, Raytheon Intelligence and Information Systems. "We believe that Oakley's portfolio of products and technology, combined with Raytheon's software systems integration expertise, will allow us to provide the robust information security solutions our customers need."
Derek Smith, Oakley Networks chief executive officer, said, "Combining Raytheon's global expertise and capability with our unique cyber-security solutions will provide customers with the very best protection available to sustain the confidentiality, integrity and availability of their critical networks, while preserving vital information sharing capability."
Raytheon Company, with 2006 sales of $20.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 85 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.