GARLAND, Texas -- Raytheon Company (NYSE: RTN) announced today that it has completed its acquisition of Oakley Networks, Inc., a privately held technology company based in Salt Lake City, Utah, and a recognized leader in cyber-security and data leakage prevention systems. The purchase of Oakley Networks strengthens Raytheons capabilities in information security for government and commercial customers.
Raytheon will operate the company as a new, wholly owned subsidiary, Raytheon Oakley Systems, Inc., within Raytheons Intelligence and Information Systems business (IIS). The combination of Raytheon and Oakley Networks offers a unique set of products and services that builds upon Raytheons software systems expertise and leverages Oakleys broad enterprise monitoring solutions.
The purchase of Oakley Networks supports our growth strategy of strengthening solutions in current markets, and entering adjacent markets where we can establish a leadership position, said Michael D. Keebaugh, president of Raytheon Intelligence and Information Systems.