Raytheon completes acquisition of Oakley Networks

by PegNews wire

Raytheon hopes that the purchase will strengthen it's capabilities in information security for government and commercial customers.

Garland — Raytheon Company announced today that it has completed its acquisition of Oakley Networks, Inc., a privately held technology company based in Salt Lake City, Utah, and a recognized leader in cyber-security and data leakage prevention systems.

Raytheon will operate the company as a new, wholly owned subsidiary, Raytheon Oakley Systems, Inc., within Raytheon's Intelligence and Information Systems business (IIS).

"The purchase of Oakley Networks supports our growth strategy of strengthening solutions in current markets, and entering adjacent markets where we can establish a leadership position," said Michael D. Keebaugh, president of Raytheon Intelligence and Information Systems.

"Oakley's capabilities complement the IIS portfolio, enable us to bring new services to our legacy government customers, and build upon Raytheon's four decades of experience protecting government information," Keebaugh added

Based in Garland, Raytheon IIS is a leading provider of information and intelligence solutions to the government. Raytheon IIS has annual revenues of approximately $2.6 billion and employs more than 9,000 engineering and technical professionals worldwide.

Source: Raytheon