Press for BBN Technologies
BBN Technologies has achieved a major advance in quantum information technology with the coupling of light and superconductors.
Raytheon Co. said Monday that one of its subsidiaries has won a $17 million U.S. Department of Defense contract to help government analysts translate information from foreign languages.
Raytheon BBN Technologies has taken in $17 million from the Defense Advanced Research Projects Agency (DARPA) to use in developing rapid translation software to apply to Arabic and Chinese news sources.
Raytheon Company (NYSE: RTN) announced today that it has completed its acquisition of BBN Technologies, a world leader in research and development, and provider of critical solutions for national defense and security missions. The purchase price is approximately $350 million, subject to post-closing adjustments. The transaction will not materially impact Raytheon's sales or earnings per share for the fourth quarter of 2009, and is expected to be accretive in 2010.