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Monday, October 4, 2010

Raytheon buys up security company

By Kyle Alspach

Raytheon Co. has acquired a Virginia computer engineering firm to boost its cybersecurity business, the company announced Monday.

Raytheon (NYSE: RTN) said it had acquired Reston, Va.-based Technology Associates Inc. for an undisclosed price. The Waltham-based defense giant said the deal would not materially impact earnings per share for the fourth quarter or full year 2010.

Raytheon said the acquisition will boost its capabilities around cybersecurity, information operations and information assurance.

Technology Associates, which has 110 employees, will join Raytheon’s Intelligence and Information Systems business, based in Garland, Texas. Technology Associates provides custom software development, database design and network administration for the U.S. intelligence community.

This summer, Raytheon said that Cambridge-based BBN Technologies - which Raytheon acquired last year - had received $23.1 million from the Defense Advanced Research Projects Agency. The funding is for a project to develop a prototype system that translates foreign language documents and signs for military personnel without the use of linguists or analysts.

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