Raytheon to Purchase Blue Canyon Technologies for Space Market Expansion

Raytheon Technologies is set to acquire Blue Canyon Technologies for an undisclosed amount to expand its products and services in the space domain. 

The deal, which will be subject to the completion of customary conditions and regulatory approvals, is expected to be finished by early 2021 when the small-satellites manufacturer will be part of Raytheon Intelligence & Space. 

Roy Azevedo, RIS president, a Potomac Officers Club member and 2020 Wash100 winner, said the space market is growing and the company’s customers need comprehensive solutions. 

"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," he said. 

Headquartered in Boulder, Colorado, Blue Canyon was established in 2008 and employs over 200 workers. With more than 90 satellites in production, the company provides support missions for the U.S. Air Force, NASA and the Defense Advanced Research Projects Agency. 

The organization also focuses on aerospace engineering, attitude control and cubesat systems, reaction wheels, star trackers and power systems. 

The company opened the latest 80K square-foot manufacturing facility, the Crescent Satellite Constellation Factory near Boulder, bringing their manufacturing footprint to almost 140K sq. ft. in locations across Colorado and New Mexico.

In August, the company announced that it made the Inc. 5000: The Most Successful Companies in America list, a yearly ranking of the 5K fastest-growing privately held companies in the country. 

The organization ranked in the top fifth, placing it at number 698. The company said the placement on the list is attributed to the growth rate of over 670 percent in 2019.