Vertex Aerospace announces acquisition of Raytheon Technologies Defense Training and Mission Critical Solutions businessNews
September 10, 2021
MADISON, Miss. Vertex Aerospace announced that it has agreed to acquire the Raytheon Technologies Defense Training, Professional Services, Mission-Critical Solutions, and Modernization and Sustainment business lines, a major provider of training and sustainment services and products to the defense and commercial aerospace industries.
The acquisition will broaden the Vertex product offerings with defense and government agencies and commercial customers, both domestic and international.
Vertex president and chief executive officer Ed Boyington said that the acquisition "significantly enhances" the company's capabilities for existing and new customers. ."I look forward to welcoming over two thousand talented, dedicated and highly skilled employees to our team," said "I am certain that our combined competencies will create the most capable and accomplished team in the industry. This important acquisition significantly enhances our capabilities for new and existing customers and accelerates our strategy to deliver a more comprehensive suite of solutions to our customers globally.”
The Raytheon business lines that Vertex is acquiring generated approximately $1 billion of sales in 2020, according to the announcement from Vertex. The transaction is expected to close following the satisfaction of customary closing conditions, including regulatory approvals.