AP News

Raytheon acquires Teligy for undisclosed price

GARLAND, Texas (AP) — Raytheon Co. said Monday that it has acquired technology development company Teligy Inc. in a deal that will extend the defense company's cybersecurity offerings for clients.

The financial terms of the deal were not disclosed.

Teligy, headquartered in Greer, S.C., was founded in 2002 and specializes in products to help customers protect their wireless security. Raytheon said the deal will add critical wireless capabilities for its intelligence, defense and federal customers. Co-founders Vic Gunter, vice president of engineering, and Jason Yates, vice president of development, will remain with the company.

Raytheon said the deal will not have a material impact on its financial results in the fourth quarter of 2012 or the 2013 fiscal year. This is the company's eleventh cyber-related acquisition since 2007.

Shares of Raytheon, headquartered in Waltham, Mass., fell 36 cents to $55.51 in midday trading. Its shares still remain at the higher end of its 52-week trading range of $42 to $58.68.

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