Blue Canyon Technologies Set for Acquisition
A definitive agreement has been reached for the acquisition of small satellite company Blue Canyon Technologies (BTC) by Raytheon Corporation. BCT will report into Raytheon Intelligence & Space, a business of Raytheon Technologies, subject to certain regulatory and customary closing conditions.
What makes Blue Canyon Technologies the right fit for our business is its agile, innovative culture and expertise in small satellite systems and technologies."
Roy Azevedo, president of Raytheon Intelligence & Space.
Blue Canyon’s diverse portfolio of spacecraft has successfully enabled a broad range of missions and technological advancements for the U.S. Government and new space economy, further reducing the barriers of space entry. The acquisition will allow BCT to grow its innovative product line of turnkey small satellite solutions, including nanosatellites, microsatellites, and ESPA-class satellites, and related technology and meet increasing customer demand.
“Raytheon Technologies is a leader in developing advanced sensors, cyber and software solutions,” said George Stafford, president and CEO of Blue Canyon. “That leadership, coupled with our innovative and turnkey small-satellite solutions, will allow us to continue to disrupt the space industry and drive our customers’ success.”
"The space market is rapidly expanding and our customers need comprehensive solutions faster than ever before," said Roy Azevedo, president of Raytheon Intelligence & Space. "What makes Blue Canyon Technologies the right fit for our business is its agile, innovative culture and expertise in small satellite systems and technologies. This acquisition enables us to deliver a broader range of solutions to support our customers' space missions – from sensing subsystems to mission systems integration and from launch and range support to on-orbit operations."
Based in Boulder, Colorado with more than 200 employees, BTC was founded in 2008. The company is currently building more than 90 spacecraft for government, commercial and academic missions. BCT has seen significant growth over the past 12 months and recently opened its new 80,000-square-foot Satellite Constellation Factory headquarters and production facility in Lafayette, Colorado.
BCT will continue to serve its customer base under the current business name and brand from their Boulder and Lafayette, Colorado facilities.
Jefferies LLC served as the exclusive financial advisor to Blue Canyon Technologies and King & Spalding LLP and Hutchinson Black and Cook, LLC served as legal advisors in connection with the transaction.
(Source: Raytheon, Blue Canyon Technologies news releases)