Raytheon: Difference between revisions

Raytheon was established in 1922, [[Incorporation (business)|reincorporated]] in 1928, and adopted the Raytheon Company name in 1959. More than 90% of Raytheon's revenues were obtained from military contracts and, as of 2012, it was the fifth-largest military contractor in the world.<ref>{{cite web|url=http://www.defensenews.com/article/20120621/DEFREG02/306210005/Defense-News-Top-100-Revenue-Declines-Just-Beginning-U-S-Budget-Cuts-Loom|archive-url=https://archive.today/20130408012722/http://www.defensenews.com/article/20120621/DEFREG02/306210005/Defense-News-Top-100-Revenue-Declines-Just-Beginning-U-S-Budget-Cuts-Loom|url-status=dead|archive-date=April 8, 2013|title=Defense News Top 100|access-date=2013-01-01|year=2012|publisher=Defense News Research}}</ref> {{As of|2015}}, it was the third-largest [[List of United States defense contractors|defense contractor in the United States]] by defense [[revenue]].<ref>[http://people.defensenews.com/top-100/ "Top 100 for 2015."] Defense News. 2015. Retrieved on 2016-07-26.</ref> It was the world's largest producer of [[guided missile]]s, and was involved in corporate and special-mission [[aircraft]] until early 2007.<ref>[http://www.sazhightechconnect.com/headlines/index.cfm?action=view&articleID=265 Missile maker hopes to diversify, create technology for peacetime] {{webarchive|url=https://web.archive.org/web/20120211203015/http://www.sazhightechconnect.com/headlines/index.cfm?action=view&articleID=265 |date=2012-02-11 }}. Sazhightechconnect.com. Retrieved on 2012-02-04.</ref> In 2018, the company had around 67,000 employees worldwide and annual revenues of about [[United States dollar|US$]]25.35 billion.<ref>{{cite web|url=https://www.bloomberg.com/profile/company/RTN:US |title=Raytheon|website=Fortune|access-date=2019-06-11}}</ref>

Early in [[World War II]], [[physicist]]s in the [[United Kingdom]] invented the [[magnetron]], a specialized [[microwave]]-generating electron tube that markedly improved the capability of radar to detect enemy aircraft. American companies were then sought by the US government to perfect and [[mass-produce]] the magnetron for ground-based, airborne, and shipborne radar systems, and, with support from the [[Massachusetts Institute of Technology]]'s [[Radiation Laboratory]] (recently formed to investigate [[microwave radar]]), Raytheon received a contract to build the devices. Within a few month, Raytheon began to manufacture [[magnetron]] tubes for use in radar sets, and then complete [[radar system]]s. During the war, Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection. Raytheon was also a contractor for the mass-production of miniature [[Toughness|shock-resistant]] vacuum tubes used in [[Proximity fuze|proximity fuse]]s. These tubes were difficult to manufacture and required rigorous attention to detail.<ref>Holmes, Jamie. ''12 Seconds Of Silence: How a Team of Inventors, Tinkerers, and Spies Took Down a Nazi Superweapon.'' Mariner Books, 2020, 416 pp.</ref> At war's end in 1945, the company had built about 80 percent of all magnetrons. Raytheon ranked 71st among U.S. corporations in the value of World War II military production contracts.<ref>[[Whiz Kids (Department of Defense)|Peck, Merton J.]] & [[Frederic M. Scherer|Scherer, Frederic M.]] ''The Weapons Acquisition Process: An Economic Analysis'' (1962) [[Harvard Business School]] p.619</ref>

In October 2014, Raytheon beat rivals [[Lockheed Martin]] and [[Northrop Grumman]] for a contract to build 3DELRR, a next-generation long-range radar system, for the USAF worth an estimated $1 billion.<ref>[https://www.reuters.com/article/us-raytheon-radar-idUSKCN0HV23Z20141006 Raytheon wins deal for next-generation U.S. Air Force radar]. [[Reuters]], 7 October 2014</ref>

In May 2015, Raytheon acquired cybersecurity firm Websense, Inc. from Vista Equity Partners for $1.9 billion<ref>{{Cite news|url=https://www.reuters.com/article/us-websense-m-a-raytheon-idUSKBN0NB13S20150420|title=Raytheon to buy cybersecurity firm Websense in $1.9 billion deal|last=Jaisinghani|first=Sagarika|date=2015-04-25|work=[[Reuters]]|access-date=2018-10-30|language=en-US}}</ref> and combined it with RCP, formerly part of its IIS segment to form Raytheon|Websense.<ref>{{cite web|url=https://www.bizjournals.com/washington/blog/fedbiz_daily/2016/01/raytheon-websense-joint-cyber-venture-changes-name.html|title=Raytheon-Websense joint cyber venture changes name to Forcepoint|last=Bach|first=James|date=2016-01-14|website=[[Washington Business Journal]]|access-date=2018-10-31}}</ref> In October 2015, Raytheon|Websense acquired Foreground Security for $62 million.<ref>{{cite web|url=http://www.transactionview.com/deal-news/raytheon-paid-62m-for-foreground-security|title=Raytheon Paid $62M for Foreground Security|website=TransactionView|language=en|access-date=2018-10-31}}</ref> In January 2016, Raytheon|Websense acquired the firewall provider Stonesoft from [[Intel]] Security for an undisclosed amount and renamed itself to Forcepoint.<ref>{{Cite news|url=https://siliconangle.com/2016/01/14/raytheon-websense-acquires-stonesoft-from-intel-security-renames-combined-company-forcepoint/|title=Raytheon{{!}}Websense acquires Stonesoft from Intel Security, renames combined company Forcepoint|last=Riley|first=Duncan|date=2016-01-14|work=SiliconANGLE|access-date=2018-10-31|language=en-US}}</ref>