WALTHAM, Mass. (AP) — Raytheon has acquired Technology Associates Inc., a provider of computer engineering for the U.S. intelligence community, the defense contractor said Monday.
Raytheon wants to expand its cybersecurity business and the privately held company, which has 110 employees, will become part of its intelligence and information systems business. Preston Harrelle will remain president of Technology Associates, but will also have a broader role at Raytheon.
"Our customers are acutely aware of the depth and breadth of the cyber threat," said Lynn Dugle, president of Raytheon's intelligence and information systems business, in a statement. "Raytheon is committed to building the most robust portfolio of solutions to combat these threats."
Terms were not disclosed. The acquisition won't materially affect the company's sales or earnings in the fourth quarter, Raytheon said.
Shares of Raytheon Co. rose 27 cents to $44.89 in morning trading.