• The acquisition will enable Blue Canyon to strengthen its product line and conduct more complex space missions.
• Blue Canyon is currently developing around 90 spacecrafts for academic, commercial and government missions.

American multinational conglomerate Raytheon Technologies Corporation has reportedly completed the acquisition of Blue Canyon Technologies, a satellite manufacturer as well as mission services provider.

For those uninitiated, Blue Canyon Technologies comprises of a unique and diverse portfolio of affordable, reliable as well as innovative spacecrafts. The company primarily focuses on reducing the barriers associated with space entry.

In fact, Blue Canyon’s broad portfolio of spacecrafts has successfully allowed it to conduct various missions and other technological developments for the United States Government, cited sources close to the company.

As per the agreement, Blue Canyon will strengthen its product line of microsatellites, nanosatellites, ESPA-class satellites and other related technologies. The acquisition will also allow the company to conduct more complex space missions.

In this context, President and CEO at Blue Canyon, George Stafford, was reported saying that the buy-out will allow the company to innovate small-satellite solutions in an effort to transform the overall space industry.

Sources confirmed that Blue Canyon is currently developing around 90 spacecrafts for academic, commercial and government missions. The company has been witnessing quite the momentum for over a year and has recently launched an 80,000 square foot Satellite constellation Factory in Lafayette, Colorado.

Although Blue Canyon will report to Raytheon Intelligence & Space following the acquisition, the company will continue to operate under its current business name from its Colorado facilities.

About Raytheon Intelligence & Space

Headquartered in Virginia, Raytheon Intelligence & Space is a renowned developer of advanced sensors, cyber, software, and training solutions. The company focuses on offering decisive advantage to commercial, civil and military customers across 40 countries. The company has approximately 35,700 employees across the globe and is one of four businesses that operate under Raytheon Technologies Corporation.

Source Credits –

https://www.businesswire.com/news/home/20201221005766/en/Blue-Canyon-Technologies-Announces-Completion-of-Acquisition-by-Raytheon-Technologies