Raytheon buys cybersecurity company Blackbird Technologies for $420 million

MarketsAssociated Press

Raytheon Co. said Wednesday that it bought privately held cybersecurity company Blackbird Technologies for about $420 million.

Raytheon, a defense contractor based in Waltham, Massachusetts, said the acquisition will help expand its surveillance and cybersecurity services to clients. Blackbird, headquartered in Herndon, Virginia, has customers in the defense, intelligence and law enforcement industries.

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"Blackbird expands Raytheon's already-established footprint in the intelligence community market while helping to grow our cyber operations and special missions support to the Department of Defense," said Lynn Dugle, president of Raytheon's intelligence information and services unit, in a statement.