deals, Web, Defense

Raytheon Pays $350M for BBN

Ryan McBride 10/27/09

Raytheon Company (NYSE:RTN) said yesterday that it has wrapped up its buyout of Cambridge, MA-based BBN Technologies for about $350 million. The amount of the purchase was not disclosed when the Waltham, MA-based provider of defense systems first announced the deal last month. Wade put the buyout in perspective and explained what BBN has meant to the development of the Internet and the Boston innovation scene over the past several decades.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.