Vertex Aerospace has closed its acquisition of Raytheon Technologies’ (NYSE: RTX) defense training and mission critical solutions business.
The transaction was first announced in September and Ed Boyington, president and CEO of Vertex, said in a statement published Tuesday the acquisition supports the company’s strategy to deliver a comprehensive suite of platforms to clients worldwide.
“Our new mission-critical offerings will further expand our relationship with the Department of Defense and government agencies, and will provide access to new markets delivering state-of-the-art training to domestic and international equipment manufacturers,” added Boyington.
Raytheon’s defense training and mission critical solutions unit recorded approximately $1 billion in 2020 sales and is composed of four business lines: defense training; professional services; mission critical solutions; and modernization and sustainment.
Vertex will continue to operate through its headquarters in Madison, Mississippi, and will run two divisions – technology and training solutions and aerospace and defense services – to align with customer and market needs. The acquired business lines from Raytheon will operate under Vertex’s TTS division, while the Vertex Aerospace business will be under the ADS division.
