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Raytheon division sold to the Vertex Company
https://www.whatjobs.com/news/business-news/raytheon-division-sold-to-the-vertex-company
By Nagasunder in Business News, posted March 12, 2022
Raytheon Intelligence & Space in Virginia has sold its training and services business to The Vertex Co in Mississippi, which has a significant presence in Indianapolis.
Raytheon employed around 600 workers in Indianapolis and no employee layoffs were made as a result of the transaction.
Vertex offers aviation lifecycle support, including design, engineering and manufacturing services for the aerospace and defense industries.
READ MORE: RAYTHEON UNDER CRIMINAL INVESTIGATION AS GOVERNMENT PROBES HIRING
The new corporate is now known as the Vertex Technology & Training Solutions division. The deal was closed in early December and financial terms are not being revealed.
Vertex Chief Executive Officer Ed Boyington said: “The Vertex Company name reflects our strategy of offering expanded engineering and technical solutions to customers inside and outside the aerospace market,”
Boyington added: “Our new offering, combined with our existing operations and maintenance services, positions The Vertex Company to address the entire lifecycle of major programs – from concept to sustainment.”
The proclamation of the acquisition came just days before Vertex announced a $2.1 billion merger with Colorado-based Vectrus Inc.
The combined company, which will have a new name to be announced at a later date, will be headquartered in Virginia.
Vectrus offers a variety of services for military and government customers, including base operations support, supply chain and logistics, IT and network operations, engineering and digital integration, security, and maintenance, repair, and overhaul of ground and aviation systems.
The company employs about 8,100 people globally and it was not clear if any Indiana jobs would be affected by the merger.
Source: Inside Indiana Business
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