Raytheon Technologies has completed an acquisition to acquire Blue Canyon Technologies, a satellite manufacturer based out of Boulder, Colorado. The move was completed ahead of schedule on December 22nd, 2020, after initially being disclosed in early November. Blue Canyon will now join the business unit of Raytheon, the defense contractor’s Intelligence & Space sector, with an operational base Arlington, Virginia.
While the company has investments in commercial satellite sales, it has made a concerted effort to increase its relationship with the Department of Defense in recent years—with over 90 satellites currently in operation for the NASA and U.S. Air Force’s joint Defense Advanced Research Projects Agency. Results of this effort bore fruit quickly as last year Blue Canyon was awarded a $14.1 million contract to build satellite stations for DARPA.
The acquisition by Raytheon is expected to mutually benefit both companies—with Raytheon finally acquiring the satellite manufacturer it has sought for years, and Blue Canyon gaining access to Raytheon’s diverse customer base. “Raytheon Intelligence & Space delivers the disruptive technologies customers need to succeed,” Blue Canyon president and CEO George Stafford said. “Joining this team will enable our innovative small-satellite solutions to continue to transform the space industry and drive our customers’ success.”
At the time of this article Raytheon has not disclosed the financial value of its acquisition.