Hello, Guest!
  • Friday, April 26, 2024

Raytheon Buys Vista’s Share of Forcepoint for $588M

Jeff Brody

Raytheon (NYSE: RTN) paid $588M to acquire Vista Equity Partners' minority interest in their cybersecurity joint venture Forcepoint during the fourth quarter of 2019.

Forcepoint, which is now Raytheon’s wholly owned business, saw its 2019 full-year net sales rise 4 percent to $658M and recorded $6M in operating income during the fourth quarter of 2019 compared with $2M in the prior-year period, Raytheon said Thursday.

In October, Raytheon and Vista were in talks over the value of Forcepoint as Vista exercises an option in an agreement that directs Raytheon to buy the private equity firm’s share of the joint venture, which was established in 2015.

The announcement comes as Raytheon and United Technologies Corp. (NYSE: UTX) advance their merger, which is expected to close in the first half of 2020.

Video of the Day

Related Articles

RTX Posts 12% Sales Growth in Q1 2024; Chris Calio Quoted Financial Reports

RTX Posts 12% Sales Growth in Q1 2024; Chris Calio Quoted

RTX (NYSE: RTX) has reported first quarter 2024 sales of $19.3 billion, a 12 percent increase from the prior-year period, and posted GAAP earnings per share of $1.28, up 32 percent compared to the previous year. In an earnings statement published Tuesday, RTX said it recorded $1.3 billion in gross proceeds from the divestiture of

Srini Dixit Appointed CAE Defense & Security CFO Executive Moves

Srini Dixit Appointed CAE Defense & Security CFO

Srini Dixit was named chief financial officer of CAE‘s defense and security business, joining the Arlington, Texas-located aviation services company from RTX‘s (NYSE: RTX) Raytheon subsidiary where he previously worked as vice president and CFO of its air power strategic business unit. He announced his appointment to the CAE Defense & Security executive leadership team

RTX Names Jeff Standerski as Mission 24 VP at Raytheon Executive Moves

RTX Names Jeff Standerski as Mission 24 VP at Raytheon

Jeff Standerski, an industry executive, has been appointed vice president for Mission 24 at RTX (NYSE: RTX) business Raytheon. He disclosed the move in a LinkedIn post published Monday. In this capacity, Standerski oversees transformation efforts at Raytheon with a focus on advancing program execution and business growth initiatives and improving operational productivity, according to