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.

Check Also

Leonardo DRS

Leonardo DRS Secures $250M Army Tactical Terminal Replacement Contract

Leonardo DRS has been awarded a five-year, $250M contract to replace the U.S. Army's satellite communications terminals designed for tactical users. The contractor will help the Army replace the terminals that are set for decommissioning in fiscal year 2025, the Department of Defense said Wednesday.

Vicki Schmanske President Leidos Intell Group

Leidos Books Potential $960M CBP Software Dev’t BPA; Vicki Schmanske Quoted

Leidos (NYSE: LDOS) has received a potential five-year, $960M blanket purchase agreement to develop software to support the Customs and Border Protection’s traveler vetting procedures.