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.
Textron plans to separate its industrial segment from its aerospace and defense businesses. The Providence, Rhode Island-headquartered firm said Thursday…
OSIbeyond has introduced a compliance-as-a-service, or CaaS, offering designed to help defense contractors secure and maintain Cybersecurity Maturity Model Certification.…
Raytheon, an RTX business, has received a $206.2 million contract from the U.S. Navy to integrate advanced Global Positioning System capabilities into…
