|
|
Article: United States: Raytheon completes $350M BBN buyout.
- Article from:
- TendersInfo
- Article date:
- October 29, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Mamta03
Raytheon Co. announced Monday that it has completed its acquisition of BBN Technologies Corp. for approximately $350 million. Raytheon did not disclose terms when it first announced the deal to buy BBN in September. The Waltham-based defense and government research giant is planning to operate BBN under its Texas-based Raytheon Network Centric Systems (NCS) unit.
In 2004, Cambridge-based General Catalyst and California-based Accel Partners bought BBN from Verizon Communications Inc. The terms of that deal were not disclosed, but General Catalyst managing director David Fialkow has called the outcome for the investors excellent.
...