Thomas Kennedy: Raytheon-Websense JV to Offer Cyber Defense Tools for Commercial Sector

Thomas Kennedy
Thomas Kennedy

Raytheon (NYSE: RTN) has closed its transaction with Vista Equity Partners to establish a data security firm comprising of Raytheon’s cyber product line and Vista’s security technology business Websense.

The Austin, Texas-based venture, led by John McCormack, will operate as Raytheon|Websense and plans to launch a new brand identity once it completes the organizational integration process, Raytheon said Friday.

“The creation of this new commercial cybersecurity company allows us to leverage deep domain expertise to offer our customers unique capabilities that will help defend against the vast, advanced scope threats that exist today, ” said Thomas Kennedy, Raytheon chairman and CEO.

Through the deal announced in April, Raytheon also bought Websense for approximately $1.9 billion, of which $600 million represents an intercompany loan to Raytheon|Websense.

Raytheon holds an 80.3 percent ownership stake in the venture and Vista invested about $335 million to keep the remaining percentage of the business.

You may also be interested in...

CACI International

CACI Awarded FEMA National Public Warning System Support IDIQ

CACI International (NYSE: CACI) has received a potential five-year, $48 million contract from the Federal Emergency Management Agency to modernize and sustain FEMA’s National Public Warning System.

Northrop Grumman

Northrop Books $155M MDA Contract to Demonstrate Space-Based Sensing Tech

Northrop Grumman (NYSE: NOC) will aim to demonstrate a space-based sensor technology for defending against hypersonic weapons and other sophisticated missile threats under a $155 million prototype award from the Missile Defense Agency. The company will perform on-orbit demonstration, launch and initial orbit testing work under Phase IIa of MDA's Hypersonic and Ballistic Tracking Space Sensor program, the Department of Defense said Friday.