Raytheon Division Sold to Mississippi Company
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Raytheon Intelligence & Space in Virginia has sold its training and services business, which has a major presence in Indianapolis, to Mississippi-based The Vertex Co. Raytheon employed about 600 people in Indy and a spokesperson says there were no job cuts as part of the acquisition.
Vertex provides aviation lifecycle support, including design, engineering and manufacturing services for the aerospace and defense industries.
The acquired business is now known as the Vertex Technology & Training Solutions division. The deal was closed in early December and financial terms are not being disclosed.
“The Vertex Company name reflects our strategy of offering expanded engineering and technical solutions to customers inside and outside the aerospace market,” said Vertex Chief Executive Officer Ed Boyington. “Our new offering, combined with our existing operations and maintenance services, positions The Vertex Company to address the entire lifecycle of major programs – from concept to sustainment.”
The announcement of the acquisition came just days before Vertex announced a $2.1 billion merger with Colorado-based Vectrus Inc. (NYSE: VEC). The combined company, which will have a new name to be announced at a later date, will be headquartered in Virginia.
Vectrus provides a variety of services for military and government customers, including base operations support, supply chain and logistics, IT and network operations, engineering and digital integration, security, and maintenance, repair, and overhaul of ground and aviation systems.
The company employs about 8,100 people globally and it was not clear if any Indiana jobs would be affected by the merger.