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Who will be given the cybersecurity baton?
RTX, formerly known as Raytheon Technologies, is one of the world's largest defense companies. Recently, it became known about the sale of its cybersecurity business for $1.3 billion. The buyer hasn't been named yet.
The transaction concerns the cybersecurity, intelligence and services division, and the sale was disclosed in the company's third-quarter 2023 financial report. Total sales of RTX defense equipment totaled $13.5 billion in the third quarter, down 21% from the same period last year.
The company positions its cybersecurity business as protecting "the most critical information, systems, and operations with cutting-edge technology and world-class specialists." Its offerings range from digital security services to secure communications products.
Foreign media suggest that a potential buyer of RTX may be a private investment company Blackstone, but there is no official confirmation of this.
According to the Defense News Top 100 analysis, RTX ranks second among the largest defense contractors in the world in terms of defense revenue.
The sale of the RTX cybersecurity division demonstrates a continuing trend of consolidation and specialization in the military technology market.
Major industry players, such as RTX, often focus on their core business lines and divest from non-core assets. At the same time, specialized companies in the field of cybersecurity get a chance to significantly expand their operational capabilities due to such transactions.
RTX, formerly known as Raytheon Technologies, is one of the world's largest defense companies. Recently, it became known about the sale of its cybersecurity business for $1.3 billion. The buyer hasn't been named yet.
The transaction concerns the cybersecurity, intelligence and services division, and the sale was disclosed in the company's third-quarter 2023 financial report. Total sales of RTX defense equipment totaled $13.5 billion in the third quarter, down 21% from the same period last year.
The company positions its cybersecurity business as protecting "the most critical information, systems, and operations with cutting-edge technology and world-class specialists." Its offerings range from digital security services to secure communications products.
Foreign media suggest that a potential buyer of RTX may be a private investment company Blackstone, but there is no official confirmation of this.
According to the Defense News Top 100 analysis, RTX ranks second among the largest defense contractors in the world in terms of defense revenue.
The sale of the RTX cybersecurity division demonstrates a continuing trend of consolidation and specialization in the military technology market.
Major industry players, such as RTX, often focus on their core business lines and divest from non-core assets. At the same time, specialized companies in the field of cybersecurity get a chance to significantly expand their operational capabilities due to such transactions.
