Raytheon Intelligence & Space to acquire SEAKR Engineering
Raytheon Technologies (NYSE: RTX) has signed a definitive agreement to acquire privately-held SEAKR Engineering, Inc., a leading supplier of advanced space electronics. Closure of the acquisition is subject to the completion of customary conditions and regulatory approvals. SEAKR Engineering will be a wholly-owned subsidiary of Raytheon Technologies and will report into Raytheon Intelligence & Space upon closing.
“Our investment strategy accelerates our agility in meeting a higher standard of performance ― the space standard ― and expands our core space business with new applications that are shaping our world,” said Roy Azevedo, president of Raytheon Intelligence & Space. “With SEAKR Engineering, we are enhancing our capability to provide qualified systems faster. SEAKR’s culture of forward-thinking innovation will complement our ability to solve our space customers’ hardest problems.”
Based in Centennial, Colorado with more than 540 employees, SEAKR Engineering was founded in 1981 by the Anderson family. Over the last 40 years, the company has delivered more than 300 flight units with a 100% on-orbit success rate.
“SEAKR Engineering is a forward-leaning business with a determined drive to innovate and do the work necessary to make advancements that enable new possibilities in space,” said Scott Anderson, President and Co-Founder, SEAKR Engineering. “Being able to leverage the strengths and expertise of the Raytheon Technologies team, we will have the ability to build on our industry-leading products as part of a larger talented team equally committed to our customers, employees and values.”
Raytheon Intelligence & Space’s and SEAKR’s portfolios are highly complementary, and with RI&S’ support, SEAKR’s deep bench of talent will be even better positioned to drive growth through our robust, combined pipeline of products.
Barclays served as financial advisor to SEAKR for this transaction.
About Raytheon Intelligence & Space
Raytheon Intelligence & Space delivers the disruptive technologies our customers need to succeed in any domain, against any challenge. A developer of advanced sensors, training, and cyber and software solutions, Raytheon Intelligence & Space provides a decisive advantage to civil, military and commercial customers in more than 46 countries around the world. Headquartered in Arlington, Virginia, the business generated $15 billion in adjusted pro forma annual revenue in 2020 and has 37,000 employees worldwide. Raytheon Intelligence & Space is one of four businesses that form Raytheon Technologies Corporation.
About SEAKR Engineering, Inc.
SEAKR Engineering, Inc. (SEAKR) is a leading supplier of space qualified state-of-the-art electronics for advanced processors, networked systems, reconfigurable Radio Frequency (RF) and Electro-Optical (EO) payloads, and digital channelizers/beamformers. These systems utilize SEAKR’s Radiation Hardened system By Design (RHBD) techniques that have successfully been deployed in over 300 missions with a 100% on-orbit success rate. Utilizing RHBD techniques, SEAKR leads the industry with some of the highest performance systems that have flown, and with new developments, SEAKR will continue to push these boundaries. SEAKR designs, builds, and tests these systems at their facilities in Colorado.
About Raytheon Technologies
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.