Acquisition will allow Blue Canyon to quickly scale production and pursue larger, more complex space missions

November 10, 2020 05:00 PM Eastern Standard Time

BOULDER, Colo.–(BUSINESS WIRE)–Leading small satellite manufacturer and mission services provider Blue Canyon Technologies, Inc. (“BCT” or “Blue Canyon”) announced today that it has entered into a definitive agreement to be acquired by Raytheon Technologies (NYSE: RTX), an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. BCT will report into Raytheon Intelligence & Space, a business of Raytheon Technologies, subject to certain regulatory and customary closing conditions.

Blue Canyon’s diverse portfolio of spacecraft has successfully enabled a broad range of missions and technological advancements for the U.S. Government and new space economy, further reducing the barriers of space entry. The acquisition will allow BCT to grow its innovative product line of turnkey small satellite solutions, including nanosatellites, microsatellites, and ESPA-class satellites, and related technology and meet increasing customer demand.

“Raytheon Technologies is a leader in developing advanced sensors, cyber and software solutions,” said George Stafford, president and CEO of Blue Canyon. “That leadership, coupled with our innovative and turnkey small-satellite solutions, will allow us to continue to disrupt the space industry and drive our customers’ success.”

BCT is currently building more than 90 spacecraft for government, commercial and academic missions. BCT has seen significant growth over the past 12 months and recently opened its new 80,000-square-foot Satellite Constellation Factory headquarters and production facility in Lafayette, Colorado.

BCT will continue to serve its customer base under the current business name and brand from their Boulder and Lafayette, Colorado facilities.

Jefferies LLC served as the exclusive financial advisor to Blue Canyon Technologies and King & Spalding LLP and Hutchinson Black and Cook, LLC served as legal advisors in connection with the transaction.

About Blue Canyon Technologies

Blue Canyon Technologies, Inc., a Colorado-based company founded in 2008 to bring innovative, reliable and affordable solutions to space missions, is an experienced integrator of aerospace systems and developer of advanced aerospace products and technologies. BCT is a vertically integrated spacecraft manufacturer supporting nearly 50 unique missions with over 90 spacecraft.

BCT has supported missions for the U.S. Air Force, NASA, the Defense Advanced Research Projects Agency and many others and provided the Attitude Control Systems for the first interplanetary CubeSats which successfully traveled to Mars. The company has been recognized with awards including the 2020 Inc Magazine’s 5000 Fastest Growing Private Companies, 2017 Colorado Companies to Watch, 2019 Best in Biz and the 2019 Colorado Biz Made in Colorado Emerging Manufacturer Winner.

About Raytheon Technologies

Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.