The companies expect the acquisition to be completed by early 2021, subject to regulatory approvals. Blue Canyon Technologies will report into Raytheon Intelligence & Space, one of the businesses that make up Raytheon Technologies.

Pictured above is the Blue Canyon 12U spacecraft XB12.

“The space market is rapidly expanding and our customers need comprehensive solutions faster than ever before,” said Roy Azevedo, president of Raytheon Intelligence & Space.

“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.”

Based in Boulder, Colorado, Blue Canyon Technologies was founded in 2008 and has more than 200 employees. It currently has around 90 satellites in production, and has supported missions for the U.S. Air Force, NASA and the U.S. Defense Advanced Research Projects Agency.

Raytheon Intelligence & Space, a $14 billion revenue company in 2019, is headquartered in Arlington, Virginia. It is one of four businesses that form Raytheon Technologies Corporation.