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Raytheon Buys out BBN Technologies

Raytheon, which recorded more than $23 billion in revenue for 2008, announced recently it has settled on terms to purchase BBN Technologies, an R&D company involved in the development of the Internet.

Raytheon is looking to build its capacity as a leading player in technology services to the government, alongside the likes of Northrop Grumman and Booz Allen Hamiliton.

BBN Technologies has developed a number of cybersecurity systems for various government agencies and continues to work on projects to ensure the security of networks and information systems. The company is worth more than $160 million and is working on creating a more secure system for the Air Force. BBN Technologies will become a part of Raytheon’s Network Centric Systems and will build on Raytheon’s ability to provide effective networking and sensing applications.

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