The company formerly known as Raytheon is selling its Dulles, Virginia-based cybersecurity business for approximately $1.3 billion.
RTX Corp. said in its earnings report Tuesday it has entered into a definitive agreement to sell the cybersecurity, intelligence and services business within its Raytheon segment. The sale price is subject to regulatory approvals and other customary closing conditions.
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CEO Greg Hayes said Tuesday morning that it will be an all-cash sale, but the company did not disclose the buyer.
"We regularly review our portfolio to ensure our business is best positioned to deliver for our customers, stakeholders and employees," said a company spokesperson when asked to comment on the sale. "Based on that review, we decided to divest our Cybersecurity, Intelligence and Services business. We believe this gives the business greater autonomy to deliver on customer missions and allows it to serve as a platform for innovation well into the future."
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The cybersecurity division has about 2,200 employees in total, according to a spokesperson.
