Raytheon Technologies to Buy Smallsat Maker Blue Canyon; Roy Azevedo Quoted

Raytheon Technologies (NYSE: RTX) has agreed to acquire small satellites provider Blue Canyon Technologies for an undisclosed sum as part of efforts to expand its platforms in support of clients’ space missions.

Raytheon Technologies said Tuesday it expects to close the acquisition by early 2021, subject to regulatory approvals and other customary closing conditions, and will integrate Blue Canyon into its intelligence and space business.

“What makes Blue Canyon Technologies the right fit for our business is its agile, innovative culture and expertise in small satellite systems and technologies,” said Roy Azevedo, president of Raytheon Intelligence and Space and a 2020 Wash100 Award winner.

Azevedo added the acquisition will enable Raytheon Technologies to deliver a broader range of platforms in support of customers’ space missions, ranging from mission systems integration, sensing subsystems, launch and range support to on-orbit operations.

Established in 2008, Blue Canyon Technologies is headquartered in Boulder, Colorado, and operates with more than 200 employees. The company is currently producing more than 90 satellites and has supported missions of NASA, U.S. Air Force and the Defense Advanced Research Projects Agency.

Blue Canyon said it will continue to support its client base under its current brand and business name through its Colorado facilities in Boulder and Lafayette.

Jefferies served as Blue Canyon’s exclusive financial adviser in the transaction, while King & Spalding LLP and Hutchinson Black and Cook advised BCT on the deal’s legal aspect.

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