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Raytheon Strikes Deal to Buy Applied Signal Technology for $490 Million

Raytheon (NYSE: RTN) has a deal in place to purchase Applied Signal Technology, Inc. (Nasdaq: APSG) at a total cost of $490 million.

According to Raytheon, “Applied Signal’s tactical signals and communications intelligence (SIGINT/COMINT) systems, data fusion and information operations/information assurance products, combined with Raytheon’s world-class sensor technology, program management, mission support and system integration capabilities, will provide highly discriminating solutions to an expanded range of intelligence and defense customers in the United States and around the world.”

The deal is expected to close in the first quarter of 2011.

“Applied Signal brings world-class technologies and talent that complement Raytheon’s strong intelligence, surveillance and reconnaissance solutions, ” Raytheon CEO William Swanson said. “This combination of strengths, along with our complementary cultures of innovation, will provide capabilities to address our customers’ current and future challenges while creating value for our shareholders.”

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