Toby O’Brien, chief financial officer of Raytheon, said Vista is negotiating the value of the joint venture as it exercises an option in an agreement that directs Raytheon to buy the former’s share of Forcepoint.
“Soon, we’ll own 100% of Forcepoint, and our plans have not changed,” Thomas Kennedy, CEO of Raytheon and a 2019 Wash100 winner, said during a call with analysts. “It all remains in play in terms of monetizing the asset.”
Negotiations over Forcepoint come as Raytheon and United Technologies Corp. (NYSE: UTX) advance their merger in an all-stock transaction, which is expected to close in the first half of 2020.
Forcepoint recorded $167M in sales during the third quarter of 2019 and $14M in Q3 2019 profit.
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