Completing one of the biggest mergers in recent memory within their respective industries, Raytheon Corporation and United Technologies resolved final regulatory objections earlier this month to create a defense stalwart capable of generating multi-billion dollar annual revenues. As a result of the merger, the two companies will operate as Raytheon Technologies and trade under RTX.
Instantly becoming a towering giant in the defense and aerospace industries, especially as a DOD U.S. government contractor, the new company is expected to hit nearly $74 billion in revenue (based off 2019 reportings). As a condition of pushing the merger through, United Technologies and Raytheon both agreed to divest company assets—with United divesting its GPS and various special optical businesses, while Raytheon intends to divest the company’s military airborne radio entity. Each company was also asked to convert their respective shares, which resulted in Raytheon converting a share into 2.3348 shares of the new company, and United converted on a 1:1 ratio.
Led by former United Technologies CEO Greg Hayes, the combined company intends to bring together the manufacturing capabilities of Raytheon for defense weaponry and electronics, and the aerospace acumen of United, to advance new technologies crucial to the ever-changing American landscape. “Our platform-agnostic, diversified portfolio brings together the best of commercial and military technology, enabling the creation of new opportunities across aerospace and defense for decades to come”, said Executive Chairman of the newly-formed Raytheon Technologies.
As a trusted supplier to Raytheon for the last several decades, OTEK is keenly interested in the development of this new player in the defense and aerospace industries. We frequently market our UPM-L model to the defense industry, where it has enjoyed great success over the years.
Able to be powered externally or by the loop/signal, the UPM-L is a truly universal panel meter that demonstrates its versatility by serving as a process PID controller, universal counter, an X-Y-Z conditioner, a data logger, scientific display controller with 10 math functions, and many more. The UPM offers 6 alphanumeric digits, self-diagnostics, isolated serial I/O: USB/RS485, intensity control via the serial port, an input fail alarm with runtime stamp and up to 4 relays.
For more information on OTEK’s service to the military industry or the UPM-L, please call us today at 520-748-7900 or contact our sales office at email@example.com