Raytheon To Acquire Technology R & D Firm

WALTHAM, Mass. (AP) -- Defense contractor Raytheon Co. said Tuesday it will acquire BBN Technologies, a privately-held technology research and development company, that it expects will bolster its military and intelligence work.

Financial terms were not disclosed. The purchase of the Cambridge-based company is expected to close in the fourth quarter, Raytheon said.

BBN's work includes advanced networking, speech and language technologies, information sensor systems and cybersecurity.

BBN products include an acoustic-based shooter detection system used by U.S. forces and technology development programs, including many that are considered mission-critical by defense and intelligence customers, Waltham-based Raytheon said.

The acquisition of BBN will strengthen Raytheon's position in networking, communications, video surveillance and advanced sensing applications, said Colin Schottlaender, president of Raytheon's network centric systems. BBN will become a part of that division following the acquisition.

The transaction is not expected to have a material impact on revenue or earnings per share for the fourth quarter and is expected to add to earnings next year, Raytheon said.

Raytheon shares fell 18 cents to $46.98 in morning trading Tuesday.

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