(Source: Biz Journals)
Raytheon, a Waltham-based defense contractor, earlier this week said it had acquired Arizona-based drone maker Sensintel Inc.
Terms of the acquisition were not disclosed.
Tucson, Ariz.-based Sensintel was founded in 1989 and had 50 employees, who will become part of Raytheon Co.’s Missile Systems business.
The acquisition wasn’t expected to materially impact Raytheon’s quarterly or full-year earnings.
“Sensintel’s expertise in unmanned aircraft systems solutions makes it a natural fit with Raytheon’s Advanced Missile Systems product line,” said Taylor W. Lawrence, Raytheon Missile Systems president, in a statement. “The acquisition of Sensintel enhances the growth prospects of our UAS (unmanned aircraft systems) business and the advanced capabilities we can offer our customers.”
Sensintel’s customers include the U.S. Special Operations Command, the Office of Naval Research and the U.S. Air Force Research Laboratory, according to UPI.
Raytheon (NYSE: RTN) on Thursday reported fourth quarter 2014 sales of $6.1 billion and earnings per share of $1.86, just above Wall Street estimates, though the company lagged on full-year net sales.
Alan is serial entrepreneur, active angel investor, and a drone enthusiast. He co-founded DRONELIFE.com to address the emerging commercial market for drones and drone technology. Prior to DRONELIFE.com, Alan co-founded Where.com, ThinkingScreen Media, and Nurse.com. Recently, Alan has co-founded Crowditz.com, a leader in Equity Crowdfunding Data, Analytics, and Insights. Alan can be reached at alan(at)dronelife.com