"This acquisition enables us to deliver a broader range of solutions to support our customers' space missions - from sensing subsystems to mission systems integration and from launch and range support to on-orbit operations," Raytheon Intelligence and Space President Roy Azevedo said in the release on Tuesday.
Azevedo said what makes Blue Canyon Technologies the right fit for Raytheon is the company’s agile, innovative culture and expertise in small satellite systems and technologies.
Based in Boulder, Colorado with more than 200 employees, Blue Canyon Technologies was founded in 2008. The company currently has more than 90 satellites in production and has supported missions for the US Air Force, NASA and the Defense Advanced Research Projects Agency (DARPA), the release said.
The deal expected to close in early 2021, depending on regulatory approvals, the release added.
Earlier this year, Raytheon announced that the US approved the Coyote Block 2 counter-drone weapon for sales to American allies against enemy drones and other aerial threats.