Raytheon (NYSE: RTN) paid $588M to acquire Vista Equity Partners' minority interest in their cybersecurity joint venture Forcepoint during the fourth quarter of 2019.
Forcepoint, which is now Raytheon’s wholly owned business, saw its 2019 full-year net sales rise 4 percent to $658M and recorded $6M in operating income during the fourth quarter of 2019 compared with $2M in the prior-year period, Raytheon said Thursday.
In October, Raytheon and Vista were in talks over the value of Forcepoint as Vista exercises an option in an agreement that directs Raytheon to buy the private equity firm’s share of the joint venture, which was established in 2015.
The announcement comes as Raytheon and United Technologies Corp. (NYSE: UTX) advance their merger, which is expected to close in the first half of 2020.
