Raytheon Co. (NYSE: RTN) has acquired the government solutions business of SafeNet Inc. for an undisclosed amount and will add around 170 SafeNet employees to form a new information systems product area.
Jim Summers, general manager of SafeNet Government Solutions, will lead that area, which will be housed within the integrated communication systems segment of Raytheon’s network centric systems business.
Raytheon projects the sale will not materially impact its total company sales or earnings per share in its 2012 fourth quarter or fiscal year 2013.
According to a Raytheon release, the Marlborough, Mass.-based contractor aims to enhance its encryption capabilities with SafeNet’s federally-approved solutions.
Those solutions are designed to help the U.S. military more securely transmit classified voice and data traffic.
“This transaction, part of Raytheon’s strategic road map, provides an immediate insertion of proven strong technologies and talent into our business, ” said Daniel J. Crowley, president of Raytheon’s network centric systems.
SafeNet Government Solutions targets a number of communication markets with its products, including:
- data link
- key management
- wireless communication