RTX Corporation: Difference between revisions

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 [[United States Air Force|US Air Force]] 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]], October 7, 2014</ref> The contract award involved the construction of next-generation radar that can track aircraft, missiles, and remotely piloted aircraft.<ref>{{Cite book |title=Air Force Magazine, Issues 1-10 |year=2017 |pages=20 |language=en}}</ref> It was immediately protested by Raytheon's competitors. After re-evaluating the bids following the protests,<ref>{{cite web|url=http://www.defensenews.com/story/defense/air-space/isr/2015/01/22/usaf-3delrr-reevaluate/22138939/|title=US Air Force to Reevaluate 3DELRR Award|first=Aaron|last=Mehta|date=January 22, 2015|access-date=August 7, 2017}}</ref> the [[US Air Force]] decided to delay awarding the 3DELRR EMD contract until 2017 and was to issue an amended solicitation at the end of July 2016.<ref>[http://www.janes.com/article/62323/usaf-delays-awarding-3delrr-emd-contract-until-2017 USAF delays awarding 3DELRR EMD contract until 2017]. [[Jane's Information Group|Janes]], July 15, 2016</ref> In 2017 the Air Force again awarded the contract to Raytheon.<ref>{{cite web |last1=Mehta |first1=Aaron |title=Raytheon awarded 3DELRR radar contract for second time |url=https://www.defensenews.com/air/2017/05/11/raytheon-awarded-3delrr-radar-contract-for-second-time/ |website=DefenseNews |access-date=August 20, 2019|date=August 8, 2017 }}</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=April 25, 2015|work=[[Reuters]]|access-date=October 30, 2018|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=January 14, 2016|website=[[Washington Business Journal]]|access-date=October 31, 2018}}</ref> In October 2015, Raytheon|Websense acquired Foreground Security, a provider of security operations centers, managed security service solutions{{buzzword inline|date=September 2019}} and cybersecurity professional services,<ref>{{cite web|url=https://www.prnewswire.com/news-releases/raytheon-broadens-cyber-capabilities-with-acquisition-of-foreground-security-300153939.html|title=Raytheon broadens cyber capabilities with acquisition of Foreground Security|date=October 5, 2015|website=[[PR Newswire]]|language=en|access-date=October 31, 2018}}</ref> 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=October 31, 2018}}</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=January 14, 2016|work=SiliconANGLE|access-date=October 31, 2018|language=en-US}}</ref>

In June 2019, United Technologies announced the intention to merge with the Raytheon Company. The combined company, valued at more than $100 billion after planned spinoffs, would be the world's second-largest aerospace-and-defense company by sales behind Boeing.<ref name="Raytheon merger">{{Cite news|url=https://www.wsj.com/articles/united-technologies-strikes-deal-to-acquire-raytheon-11560112912|title=United Technologies Strikes Deal to Merge With Raytheon|last1=Lombardo|first1=Cara|date=June 10, 2019|work=[[The Wall Street Journal]]|access-date=June 10, 2019|last2=Cameron|first2=Doug|language=en-US|issn=0099-9660}}</ref> Although UTC was the legal survivor, the merged company took the name Raytheon Technologies and based its headquarters at Raytheon's former campus in [[Waltham, Massachusetts]], rather than UTC's former base in [[Farmington, Connecticut]].<ref name="Singer">{{Cite web|url=https://www.courant.com/business/hc-biz-utc-raytheon-announcement-20190609-l4zbj234y5aypcery2ghfhqebu-story.html|title=United Technologies says it's merging with defense contractor Raytheon and moving headquarters to Boston area from Connecticut|last=Singer|first=Stephen|date=June 9, 2019|website=[[Hartford Courant]]|access-date=June 10, 2019}}</ref> The merger was completed in April 2020.<ref name="Kilgore"/> Raytheon Technologies began trading at $51 per share, on the New York Stock Exchange under the ticker RTX.<ref>{{Cite web|last=Aitoro|first=Jill|date=2020-04-03|title=Raytheon Technologies Corp. begins trading on NYSE|url=https://www.defensenews.com/industry/2020/04/03/raytheon-technologies-corp-begins-trading-on-nyse/|access-date=2020-12-27|website=Defense News|language=en-US}}</ref><ref name= markRussell >Jen Judson [https://www.defensenews.com/industry/2021/11/24/raytheon-cto-says-merged-company-is-finding-new-ways-to-work-together/ (24 Nov 2021) Raytheon CTO says merged company is finding new ways to work together] synergies: Mark Russell, CTO</ref>

In August 2024, RTX was fined US$200 million for [[International Traffic in Arms Regulations]] violations, including exchanging data and products with prohibited countries such as China.<ref>{{Cite news |last=Stone |first=Mike |date=August 30, 2024 |title=RTX fined $200 million for exports to China and others, US says |url=https://www.reuters.com/business/aerospace-defense/rtx-pay-200-million-fine-export-mistakes-state-department-says-2024-08-30/ |access-date=August 31, 2024 |work=[[Reuters]]}}</ref>